In our new digital world, we know we know we need to be fast and agile. It also helps to be able to scale quickly and deliver the right customer experience at the right time. Of course, that may include multiple types of devices.
What is the secret sauce for delivering in the new digital world and transform our businesses into digital businesses?
Open API’s (Application Programming Interface) are the standard and foundation for building a digital business. All our systems moving forward should take advantage of this approach.
Not sure what that means? It is worth the time to invest in figuring it out. Do a simple search on YouTube for API’s. There are 1,700,000 videos on this.
Here is a great overview in 3 minutes.
As executives, we don’t need to know technically how it works. We do need to know that is our approach, strategically. We also need to know that when we are purchasing applications, that they are heavily invested in that approach.
How important does Google, Amazon, Salesforce, Apple and others think Open API’s are? Answer is Duh!! There whole revenue model is based on it.
Here are 5 reasons companies share their API’s.
- It generates more revenue
- Integration with other API’s is easier
- We can reach more people with them
- Others can help us innovate
- Consumers are more engaged
Every business has the potential to be a digital business. More importantly, every business must become a digital business. As the number of smart, connected devices—from phones to cars to wearables—moves toward a tipping point where most work, play, and commerce will have a digital dimension, companies that quickly deliver digitally instrumented products or services, harvest data from market interactions, and use insights to rapidly iterate and optimize their value chain will gain a decisive competitive advantage.
Businesses that digitally transform will be able to connect more closely with customers, accelerate the pace of innovation and, as a result, claim a greater share of profit in their sectors. Today digitally transformed companies have an edge; tomorrow, only digital businesses will succeed. As per the Apigee Institute report “An Emerging Digital Divide.”
On a personal level, we need to personally act like an open API.