Off the top of my head; data declarations use lazy evaluation in access and storage of their "members", whereas newtype does not. Newtype also strips away all previous type instances from its components, effectively hiding its implementation; whereas data leaves the implementation open.
I tend to use newtype's when avoiding boilerplate code in complex data types where I don't necessarily need access to the internals when using them. This speeds up both compilation and execution, and reduces code complexity where the new type is used.
When first reading about this I found this chapter of a Gentle Introduction to Haskell rather intuitive.
