Despite the substantial body of evidence detailing the multifaceted applications of data within organizations, the conceptualization of data and their value propositions remain disjoint and require updating. Scholars have come to realize 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 Information Systems 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 value propositions. Together these elements form a typology, which provides an explanation for the unique nature of data use in organizations and the diverse sources of their value. By extensively drawing evidence from various domains, this research endeavors to introduce a fresh perspective on how we define and perceive data value in organizational contexts.
