In this paper we examine the strategic role of data resources. We contrast the resource- based view and the relational view theories to examine how data resources can help organizations create and capture value. We use two case studies from two different industries to understand how different types of data resources can provide a competitive advantage. We also examine the role of strategic partnerships in capturing value created through the exploitation of data resources. We conclude that while data often serve as a required resource for entry into new markets, strategic partnerships play a critical role in capturing value created through exploitation of data resources. We also find that the emergent partnership structures can be remarkably similar in different industries. The emergent structures target rapid market expansion through the use of standardized legal contracts and encapsulation of data resources within highly scalable web services.