Abstract:  Data business is a new way of creating economic value that is centered on data. The firm should select the strategies and set the governance objectives on data business based on its resources and governance ability. Firstly, four data business strategies, that is, supplier strategy, transformer strategy, integrator strategy, and facilitator strategy, are identified based on the data business process model. Secondly, a firm’s selection of data business strategy depends on two factors, data resource control ability and its knowledge about customers’ demands. Finally, the governance objectives of these four data business strategies differ in data quality and data compliance are analyzed. The findings contribute to the literature about data business strategies, digital governance and data factor market, and meanwhile the findings are guides for adjustment of data business strategies and construction of data industrial ecosystem by firms, and for categorized regulation of data business by regulators.

Key words:  data business, strategy selection, governance objective, data factor, data assets