A Data Asset, or Digital Asset is an entity that is comprised of data. For example, a database is a data asset that is comprised of data records. A data asset may be an output file from a system / application /  computer script / simulation, a database, document, or Web page.

Data Assets are typically defined in a Data Management Plan (DMP), based on the different stages of a data workflow. The concept of Data Assets comes from Digital Asset Management.

Using the Data Asset concept, makes it suitable for labeling with different attributes like Data Format or File Format, expected size, if it contains Personal Data or Identifiable Data, the storage facility of the research Workspace or Data Lab, it is is suitable for sharing, the suitable facility for archiving this asset, the data collector and data owner, the conditions for re-use, access control,  etc.
Having defined the labels for each Data Asset helps managing the data throughout the data lifecycle, form creation till archiving and deletion. The data assets can be selected for deletion or collected in a data set for archiving.

A collection of Data Assets with a description  are called a Data Set.

Data Sets are often archived in a Data Archive.