I have spoken with executives at scores of global organizations. Inevitably those conversations come around to digital transformation and how to best leverage the explosion of data.
Often we talk about IoT and the possibility of harnessing data collected from millions of devices as well as internal systems. Executives want to use this wealth of data to connect with customers, create new products and services, and build new intelligent ecosystems.
The possibilities are endless, but I emphasize it all begins with combining all those data sources through core integration, and discovering meaning through artificial intelligence (AI). Without core integration and AI all the data in the world is useless.
Then if we start “talking tech” a little bit they might bring up APIs. “Don’t I need some APIs if I want to connect all my data sources together?” This is one of the biggest misconceptions I encounter. Yes, APIs can serve as little Rosetta Stones to help connect transactional systems, customer systems and other sources of data wherever those systems are located.
But two things here are really important: First, APIs are about far more than integration. For example, they can be the key to monetizing and sharing valuable assets that already exist in your organization.
Second, the creation of APIs is just the first step in a whole lifecycle – just as every product has a lifecycle. Manage the API lifecycle well and you can use data like a rocket engine to power innovation and growth in your organization. Manage the API lifecycle poorly and the thousands of APIs your organization creates can end up a waste of time – or a giant security risk.
So APIs are important to harnessing the transformative power of data. But you need the correct tool to manage the API lifecycle correctly.
Guess what? Over the last few years the API Management tool market has been hit by a storm of disruption. Six of the leading vendors (not counting minor players) have been consumed by acquisition. Most of those are in decline, and one is about to fall over the edge into oblivion.
So let’s summarize: your organization will need to manage the full lifecycle of its APIs – to capitalize on data, to protect security, to monetize your assets – but the API Management market is churning like a Category-5 hurricane. What is your best course of action?
There’s no magic trick that quickly transforms your organization into a digital business. But APIs can help you create new opportunities that open the door to a world of new possibilities for your business. You need complete API management to ensure you capitalize on the innovations they can bring to your business.
Why not consider a market leader – according to both Gartner and Forrester – that is stable, independent and profitable and has been a dependable partner for 50 years? With Software AG is not magic, it’s innovation!