Time to reassess data value: The many faces of data in organizations

Despite the substantial body of evidence detailing the multifaceted use of data within organizations, the conceptualizations of data and their value propositions remain disjointed and require updating. Information Systems scholars contend that the traditional ways of conceiving data now appear inadequate in framing this ever-evolving data-driven phenomenon. In this context, we argue for a reassessment of the fundamental assumptions about data in the field. This paper offers a comprehensive literature review, through which we conceptualize the role of data into four distinguishable types: data as a tool, as a commodity, as a practice, and as algorithmic intelligence. Each type possesses a set of identifiable characteristics, usage, and unique pathways of value creation. Together these elements form a typology, which provides an explanation for the intricate and complex nature of data use in organizations and the diverse sources of their value.