This paper introduces a conceptual framework for strategic big data utilization. We discuss big data through (i) its origins (where and how does the data accumulate), (ii) its constitution (what is the nature of the data), and (iii) its applications (how and why can the data be processed and utilized). Based on this conceptual analysis, we argue for three continua that can guide the process of making strategic decisions regarding the utilization of big data. We further use these continua as a foundation for proposing a conceptual framework for strategic data use and strategic positioning. The conceptual framework facilitates understanding the firm-specific possibilities that emerge from aligning the overarching business goals with the opportunities emerging from big data.