In total, we analyzed 1.5 millions review comments from five Microsoft projects and uncovered many factors that affect the usefulness of review feedback. For example, we found that the proportion of useful comments made by a reviewer increases dramatically in the first year that he or she is at Microsoft but tends to plateau afterwards. In contrast, we found that the more files that are in a change, the lower the proportion of comments in the code review that will be of value to the author of the change. Based on our findings, we provide recommendations for practitioners to improve effectiveness of code reviews.