I just recently started playing Netrunner and was looking through my cards and came across Data Raven. I am have a hard time understanding or I'm overthinking the card. Can some one give a in game play by play on how this works (It's mostly the Hosted power counter I'm confused on and the timing). Do you get a power counter every time the trace is successful?

Yes, you get a hosted counted every time you get a successful trace,

Working through the timing structure:

Runner encounters Data Raven (3.0) and chooses to take a tag or end the run. Assuming they take the tag

We move on to 3.1, where paid abilities can be used, and Icebreakers can break subroutines. If the Runner breaks the Data Raven subroutine, the trace never happens. Assuming the subroutine is unbroken

We move on to 3.2, where unbroken subroutines resolve. We run a trace. Let's assume the trace is successful and we place a power counter on Data Raven.

This power counter can be spent* during any paid ability window when it's the Corp's turn to act. It's effectively a tag-on-demand, which is enormously powerful if you have adequate tag punishment.

*(meaning, you remove it - that might seem obvious but some new players miss it)

Thanks. That helped a lot.