What is API Economy?
API economy describes the way Application Programming Interface (APIs) positively affect organisations profitability.
APIs are customisable software interfaces that allows various software components to communicate. It brings a new level of connectivity and data sharing by overcoming the inherent incompatibilities created by differing software platforms, data structures and underlying technologies.
Exposing APIs not only integrates multiple applications. The innovative use of APIs creates new ecosystem and user experience. Together with Internet of Things (IoTs), the possibilities are limitless.
Why API Economy?
Design for Customer-Centric Services
Individual persona needs and user journeys can drive the API development. Designing API based on user preferences enhances the effectiveness of the applications, designing services that puts the customers at the heart of the solutions.
Enabling Seamless User Experience despite Differences in Underlying Technology
API enables various software components to communicate and share data despite the inherent incompatibilities. Solutions are no longer limited by the type of platforms, data structures and underlying technologies, providing seamless user experience.