APIs as digital assets

The potential for APIs to be seen as digital assets is huge. Organizations are constantly evolving business strategies to tap into this opportunity for their revenue generation. When envisaged with a long-term strategic outlook, productized APIs can offer a significant advantage over other distribution channels. Effective monetization strategies with a variety of consumption models can lead to upselling and cross-selling opportunities for the enterprise.

By actively monitoring the value derived from their API investments and the associated business analytics, organizations can establish different business models to suit the needs of the customer. Self-service, subscription-based engagements are becoming quite popular these days, especially in the media and consumer service industries.

Growth of the API economy

Since the inception of Service Oriented Architecture (SOA), there has been a gradual shift toward decoupling frontend applications from the business...