From an omnichannel overhaul, to a value chain digitization, to a data analytics upgrade, the expanse of digital transformation projects that businesses might undertake can be a little overwhelming. Where should they invest their dollars when there is so much to do?
Frequently, enterprises seek out the low-hanging fruit in these initiatives. They want a relatively simple project that can get them a big bang for the buck. And more often than not, the answer involves using the application program interface (API) to expose their data, products/services and digital infrastructure to third party developers.
“Expose” can be a frightening word when it comes to proprietary data and digital assets. However, a self-service API layer can selectively open up only the necessary parts of their back end systems, allowing outside developers and niche startups to build innovative experiences and new offerings around their products and services. Often these experiences and offerings reach customers that the company itself may never have discovered.