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Although a handful of digital platforms have generated massive profits from data via online search, social networks, and e-commerce, most companies that have historically had access to vast amounts of data, such as financial intermediaries, telecommunications operators, and utilities, have struggled to commercialize and capture value from their data. Still, there is strong evidence that “data products”—defined as collections of data that are tradeable (also called “data commodities”; see Aaltonen, Alaimo & Kallinikos, 2021)—can offer significant value (Brynjolfsson, Collis & Eggers, 2019; Nakamura, Samuels & Soloveichik, 2017), to the extent that accountants and statistical agencies have considered new methods to measure their true economic importance (Byrne & Corrado, 2020; Collins & Lanz, 2019). In this chapter we develop a conceptual framework for analyzing why some firms succeed and others fail to …