The rapid growth of the digital economy has positioned data factors as essential drivers of new quality productivity. This paper examines the theoretical foundations and underlying mechanisms through which data factors contribute to new quality productivity and offers relevant policy recommendations. Specifically, we define the conceptual boundaries of data factors and distinguish them from traditional factors of production. Then, we explore the theoretical significance of new quality productivity and delves into the relationship between data factors and this emerging form of productivity, outlining the conditions necessary for effective empowerment. In analyzing the mechanisms of empowerment, we show how data factors drive technological breakthroughs, enable innovative configurations of production factors, and facilitate deep industrial transformation and upgrading. Additionally, we identify key challenges in the current stage of data factor marketization and utilization, including difficulties in valuation and pricing, slow development of application scenarios, strong resistance to digital economic transformation, and potential resource and environmental concerns. Finally, the paper proposes policy recommendations to enhance the role of data factors in fostering new quality productivity, providing theoretical insights and practical guidance for economic development in the digital age.