It’s no secret that APIs are becoming vital to businesses’ success. But there’s still a secret as to how to have success with APIs. A new study from CA Technologies asked 1,770 large enterprises across the world what they’re doing with APIs and got some insight into who has success and why.
The secret? Advanced management of the full API lifecycle. The study divided businesses into those with advanced, basic, limited or no management of APIs. What constitutes an advanced business in this sense? One that has 80% of the following capabilities: “connect legacy and current systems; rapidly create APIs in order to safely expose data; integrate with back-end data and legacy apps; protect integrations with the right levels of security; accelerate mobile development; and unlock the value of the resulting digital ecosystems through analytics and monetization.”
While 88% of businesses surveyed were using APIs extensively, only 51% of them reached this advanced level. Advanced enterprises in this sense reported better business results from their APIs than other businesses. For example, 47% claimed they experienced improved customer and partner satisfaction as a result of their API use compared with only 32% of businesses with basic API management. 45% also reported increases in transaction volumes and a reduction in IT costs, compared with 32% of basic businesses.
Advanced level businesses also reported improvements in key business metrics such as customer experience (89% vs 70% for basic businesses), leverage of third-party innovation (83% vs 68% for basic businesses) and digital reach (85% vs 68%).
The majority of businesses (70%+) claimed to be using external metrics to measure the effectiveness of their APIs. The most frequently mentioned among respondents were: customer experience, digital reach, transaction volumes and time-to-market for new apps.