How to facilitate the transformation of data as a new type of element into new quality productivity, thereby promoting high-quality development, has become a critical issue. However, there are still bottlenecks and blockages in the supply, circulation, and utilization of data elements, which are particularly evident in the lack of effective ecological connecting entities and value co-creation mechanisms. Platform enterprises are powerful subjects in the transformation of data elements into productive forces and in driving the innovative development of the digital economy. Yet, few studies have focused on how platform enterprises can leverage their advantages in resources, technology, and context to accelerate the transformation of data elements into significant context, thereby giving rise to new quality productivity. This research is grounded in the new mission, requirements, and pain points of data empowering new quality productivity. Based on the theory of context-driven innovation, it systematically discusses how platform enterprises lead the construction of an innovation consortium of data elements by engaging multidimensional context and diverse subjects. This consortium aims to foster a virtuous cycle in the value chain of "acquisition-storage-governance-exchange-usage" of data elements, thereby accelerating their transformation into new quality productivity. Furthermore, by integrating typical practices, this study distills and summarizes four practical pathways through which platform enterprises construct an "ecological flywheel" to empower the transformation of data elements into new quality productivity. The goal is to explore new types of production relations with platform enterprises as the new quality subjects, promoting the transformation of data elements, a new type of production factor, into new quality productivity. This approach aims to unleash the amplifying, stacking, and multiplying value of data elements, empowering innovative context across a myriad of industries and enterprises, and cultivating new drivers of momentum for the accelerated development of new quality productivity.