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In the thesis I apply Beck's Risk Society perspective to the study of datafication. Results of four empirical studies show how some elements of the reflexive modernization theory do not pass the empirical test. First, a country's level of digitalization does not deepen knowledge based stratification mechanisms. Second, individuals' trust in data institutions does not drop when the pitfalls of datafication become visible, challenging the `worked and won' dynamic of trust in the risk society. Nevertheless, I also show how the Risk Society perspective is beneficial to better understand some aspects of the datafication processes, as findings indicate the success of organized irresponsibility dynamics, as well as the important role of knowledge as a risk stratification mechanism at the individual level.