API Benefits Fueling Digital Business Growth

Application programming interfaces (APIs) are valuable tools supporting the ever-connected digital world businesses navigate and operate in daily. Yes, APIs are generally used in software apps to securely connect multiple application puzzle pieces together. 

However, APIs can be utilized for far more. And creating an API for your business is easy. For instance, you can utilize goforces, the go package for the codeforces API via togatoga/goforces

Operations, products, services, and business innovation can all be streamlined and enhanced via APIs. From early development to digital transformation, you can facilitate business growth via an API. A few key statistics putting API use on a pedestal include:

  • 47 percent better business results via advanced API management processes
  • 57 percent of customers switched to a competitor with better experience via API
  • 75 percent of employees agreed APIs enhanced the customer experience

Let’s take a closer look at the different types of APIs and key API benefits fueling digital business growth.

Application Programming Interface (API) Types Important To Know

There are 4 application programming interface (API) types that could be valuable to your business. 

  • Open API: An open API does not require authentication while still delivering access to data. This is useful for sharing company information with the public.
  • Public API: Having a public API allows you to share services to those with authorization. This could be useful when it comes to sharing information and data to clients and/or partners.
  • Private API: Private APIs are utilized by developers to share, manage, and innovate internal applications and systems.
  • Internal API: An internal API is exactly as the name entails, internal use. This type of API is generally used for internal only processes.

The different types of APIs are important to know, because you can utilize different APIs for different services, processes, and development issues. The type of API you do run with will also serve up different security and privacy, so choose wisely.

With the different types of APIs explained, let’s dive into the different benefits APIs can serve up for your company.

Streamlined Data Collection In Real-Time

One of the major benefits APIs can provide businesses is the ability to collect data in real-time. And that data can be easily organized and processed to help guide fast business decisions.

If you can utilize a tool to simplify resource and engagement tracking, pattern development, and other important factors that affect business processes, you can create powerful insights. Insights that may give your company a competitive edge.

Data collected and processed via APIs is also very accessible. Some businesses may opt for open data platforms, giving the company easy access, usages, and ability to distribute data faster. This enhances transparency as well.

Collaboration Becomes Effective And Easy

Having centralized data, a shared infrastructure, and multiple systems connected and communicating, allows you to pivot quickly with effective, easy collaboration. How do APIs enhance this? An API can pull data from one area regardless of the system it pulls the data from.

This is why APIs assist teams within a company collaborate in an easier and more effective way. The lines of communication are accurate and reliable, decreasing the need for manual processes, duplication, and human error.

Tech Innovation Is Easier To Digest

It can certainly be difficult to bridge the tech innovation gap for some companies. Integrating new technology and/or moving processes into the digitized world can be a bit worrisome for some. APIs, however, make tech innovation much easier to digest.

With an API implemented into your company, you can ensure new tech is integrated successfully with legacy systems. And you can be sure they will be effective working together. You can essentially utilize your existing systems and the data you already have while new technology is put into place, like automation and artificial intelligence.

For instance, you can leverage APIs to develop new architecture, or tweak old architecture already on microservices. This can be cost-effective with less resources used.

API Use Can Reduce Security Risks

There is no shortage of security risks and cyber threats. Companies need to be more cautious with internal and external security and privacy than ever before. APIs can help in this area as well. You can think of it as an extra layer of security when it comes to threats. 

For instance, you can utilize APIs to develop security provisions, ensuring access to data is managed and controlled effectively. Having an API to enhance security can also help your company stay compliant.

How Can APIs Help Fuel Your Digital Business Growth?

The above outlines a number of reasons why API is useful for businesses in today’s ever-changing digital business environment. Creating a streamlined approach via application programming interfaces could prove valuable for your company. How will you grow your company via APIs?