[Purpose/significance] This study aims to clarify the core impact factors and pathways in data value realiza⁃tion, thereby promoting the effective release and realization of data value. [Method/process] A multi-chain system for data value realization is constructed. The CFCS-DEMATEL method is employed to identify causal relationships among factors, and fuzzy cognitive maps are used to simulate single-chain, double-chain, and triple-chain models to identify core factors within and across chains and analyze key impact paths. [Result/conclusion] A single-chain provides limit⁃ed momentum; a double-chain improves data flow efficiency; and triple-chain collaboration significantly enhances val⁃ue realization performance. The core impact factors differ across the single-, double-, and triple-chain models, and the impact paths within and across chains vary with the stage of data flow. Data value realization can be improved by strengthening single-chain capabilities, enhancing cross-chain collaboration, and advancing triple-chain collabora⁃tive governance.