Finding value in the API economy
APIs allow us to connect services with each other. Instead of having two separate services, we can create a new service that generates a higher value combining them. For example, we can connect social media managing tools with the API of the respective social media channel and manage our content on all social media channels within one tool. You can do the same in content management. You use an API-based, headless content management system and connect it to all the services you use (social media, eCommerce, video streaming, analytics etc.) and you can pull in and push out your content via APIs. With APIs we can connect any kind of cloud services and create a new universe, or ecosystem of these services. APIs will become a necessity if you want to succeed in a connected world.
The API economy is here, according to Gartner — and it’s huge. Harvard Business Review reported that Salesforce generates over 50 percent of its US$3 billion in annual revenues from APIs. That’s a sign that it’s time to sit up and take notice of the API economy. How are companies building profitable business models around APIs, and how do they work?
In 2011, venture capitalist Marc Andreessen famously said in The Wall Street Journal that “software is eating the world,” and it’s still hungry. Software-based services drive an increasingly large portion of our economy. That portion is expanding as mobile applications continue to bring software services to users wherever they are.
How the API economy changes everything
APIs allow different software applications to communicate and offer services to one another. In this way, your web collaboration application can “talk” to a cloud-based conferencing service and ask it to create a video chat session between all…
Read the entire article from MobileBusinessInsights here: Finding value in the API economy