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27 J. Legal Ethical & Regul. Isses 1 (2023)

handle is hein.journals/jnlolletl27 and id is 1 raw text is: Journal of Legal, Ethical and Regulatory Issues THE EXPANDING SIGNIFICANCE OF DATA IN THE EMERGING WORLD: ASSESSING THE ROLE OF THE PRINCIPAL ACTORS IN THE DATA PROTECTION ECOSYSTEM. Saheed Olamilekan Apampa, Lagos State University ABSTRACT The proliferation of data exchange on public and private paper, web and mobile applications, Google, LinkedIn, and Play Store to every social media application whose subscribers are routinely required to provide data to facilitate access portrays the importance and increasing prevalence of data in the modern world. Families, businesses, and governments all need to learn how to live the complexities of a world made possible by cutting-edge technologies and innovative commercial strategies. With real-time intelligence at their disposal, data has been of great value for the characterization, calibration, verification, validation and assessment of creative business models and emerging government policies for predicting their long-term structural durability and performance in extreme situations and a disruptive market environment. To keep up with these expansions of the role of data in all facets of business and non- business functions, provide strongerprotection for people and their data and increase greater acceptance of services that rely on data sharing and data use, it becomes increasingly important that the roles of the actors responsible forthe protection of data be clearly defined, understood, and augmented. This paper thus, seeks to examine the role of these key actors in the data protection ecosystem by commencing with an introduction to the progressing role of data in the emerging world as well as its challenges, followed by a deep dive into the roles of the principal actors in the system in ensuring the protection of individuals and their personal data. The paper rounds off by concluding and making necessary recommendations for an effective promotion of the proper understanding of these duties by the actors across the ecosystem, without prejudice to innovative business practices. INTRODUCTION In recent years, collection of personal data has been carried out on a regular basis by different government agencies and corporations. A wide range of personal information is often shared in job applications, applications for driver's license, voter's card or in updating medical information. Businesses have taken advantage of this opportunity to forecast sales and staffing needs among other purposes. Private actors often rely on accurate, comprehensive public data collection to makesmart decisions and to deal with the uncertainty surrounding the future demand for their products. Collectively, these well-informed decisions yield a stronger, more prosperous economy. Data collection by the government for the purpose of implementing better public policies is equally essential. Quality data at the disposal of policy makers reduces misuse of taxpayer funds and facilitates the exploitation of productive opportunities which will in turn 1 1544-0044-27-S1-004 Citation Information: Apampa Olamilekan, S., (2024). The Expanding Significance of Data in the Emerging World: Assessing the Role of the Principal Actors in the Data Protection Ecosystem. Journal of Legal, Ethical and Regulatory Issues, 27(S1), 1-6. Volume 27, Special Issue 1, 2023

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