As a new type of production factor, data has been widely integrated into all stages of production, distribution, circulation, consumption, and social governance, profoundly transforming production methods, economic structures, and governance models. The core of new quality productive forces lies in strengthening the deep integration of technology and the economy, leveraging high-level technological self-reliance to advance China’s industries up the global value chain. In this process, how enterprises effectively unlock the value of data factors to enhance new quality productive forces remains a critical issue requiring further exploration. Taking E-Hualu and Alibaba Cloud as case studies, this paper employs the Motivation-Opportunity-Ability (MOA) framework to investigate how data factors drive improvements in total factor productivity and contribute to the development of new quality productive forces. The findings reveal that E-Hualu, leveraging government-led data marketization reforms, has built administrative data operation capabilities and developed an economy-driven integrated application model. In contrast, Alibaba Cloud relies on technological innovation in cloud computing, big data, and artificial intelligence, building market-driven data operation capabilities and forming a technology-driven interactive empowerment model. Furthermore, data factors enhance new quality productive forces by flowing through upstream and downstream segments of the industrial chain, optimizing resource allocation, and integrating with other production factors to achieve value realization. The conclusions of this study not only enrich the theoretical framework of data factor value creation and new quality productive forces enhancement but also provide practical insights for enterprises seeking to optimize data value strategies and enhance industrial competitiveness in the digital economy era. Additionally, the study contributes to the development of a China-specific theoretical system of “data value theory”.