Plot-Driven vs. Character-Driven (Cutting Room Floor #058)

What makes a great story? A great Plot? Or great Characters? The first answer we come to for this question is "both." But, what if we dig deeper than that? HOW do we create a great character? Is it not the events we put them through, and how they react? HOW do we create a great, memorable plot? Is it not the characters that we fall in love with and remember? Just how do these two seemingly poles interact and mesh with each other? And how do they mesh with ourselves, the storytellers? Is the question a personal one when it comes to process?