The API ECONOMY. BUSINESS MODEL.
According to a recent report an API can be defined as:
“An interface to a software
component that can be invoked at a distance
over a communications network using standards
based technologies.”
The
API Economy represents a new—but already proven—way of doing business: flexible, powerful, on demand
integration with almost any external system.
****************
Today’s technology trends of mobile
expansion, social elements in most processes
and the accelerating shift to the
cloud are all software-driven at their core and are radically changing industries. The effects are
broad and deep:
• Internal processes
are starting to be automated, the first step
to becoming optimized.
• Processes that
used to be slow are now taking place in real
or near real time.
• An increasingly
large amount of data is becoming available
for making business decisions, and data quality
is improving steadily.
•
The workforce
is now fully mobility-enabled.
•
Ancillary IT functions
are gaining new efficiencies.
Software
is creating a new business reality—the increasing automation of processes, transactions and distribution
across every industry and organization.
This
shift has to do not only with the use of
software in particular processes, but also with exposing software interfaces to others—internal developers, partners, customers and the world at large.
The
result is a transformation for individual
businesses that makes them radically more
flexible and better able to engage with others.
Further,
at a global level, this trend heralds a new global business reality—the API Economy.
The
one-two-three punch of cloud, mobile and social computing has accelerated the need to put flexible software
at the core
of
what organizations do, and this requires APIs (Application Programming Interfaces) to universally access
an organization’s core systems and resources.
By
exposing data, business processes and other
services and resources through APIs, organizations are creating compelling new business
platforms.
Organizations must explore this fundamental shift from
yesterday’s siloed way of doing business to today’s radically different world.
•
How software is
impacting business.
• How APIs underpin much of this change.
• How organizations can take advantage of the API Economy and meet many of the concrete challenges they
face today.
The
key benefits of the API Economy could be structured into the following trends:
- mobile enablement;
- ecosystem growth;
- expanding reach;
- powering new business models and
- catalyzing internal innovation.
- mobile enablement;
- ecosystem growth;
- expanding reach;
- powering new business models and
- catalyzing internal innovation.
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