He is considered to be an avatar and combined form of the three Hindu gods Brahma, Vishnu, and Shiva, who are also collectively known as the Trimurti, and as the manifestation of Parabrahma, the supreme being, in texts such as the Bhagavata Purana.
You can progress in life with wisdom by worshipping Dattatreya and with Kartavirya Homa you can attain back all the things you have lost, be it name, fame, money, valuable items, property, etc.