The release of data factor value is the key to the high-quality development of the digital economy. A systematic literature review can identify the progress and weaknesses, and provides references for future study. Based on the grounded theory, the content analysis shows literature related to data factor value three topics: formation mechanism, influencing factors and implementation path. In terms of formation mechanism, the previous study deconstructs the value type and evolution process of data factor. The study of influencing factors considers three dimensions of data factor: subject, object and environment. Therefore, strengthening the capacity of data factor subject, attaching importance to the construction of data factor resources and regulating the data factor circulation environment forms research landscape on implementation path of data factor value. In the future, it is necessary to carry out the research of data factor value typology, deepen the research of data factor value evolution, standardize the research of data factor value influencing factors and expand research on the implementation path of data factor value.