At Ad:Tech, I attended a great Google session on Web Analytics presented by Avinash Kaushik. Avinash has written a book called Web Analytics - An Hour a Day, which I highly recommend as it demystifies and breaks down the key concepts on Analytics that will make you better Marketing 2.0 marketer.
One key point was to share the data with all the key people in your business - however make sure that you forward the right reports to the right people, thus engaging people in your cause, while eliminating the reports that cause complex decision making - allowing you to experiment with improving the performance.
Another key point was that you should spend 90% in changing and improving and 10% on reviewing the past data - apparently most people do the opposite. Here is a link a previous video presso of Avinash.
For more insights, buy the book and subscribe to Avinash's Blog.