Word of the Day: API economy

Word of the Day Daily updates on the latest technology terms | August 7, 2018 API economy API economy is the exposure of an organization's digital services and assets through application programming interfaces (APIs) in a controlled way. In this context, the word "economy" refers to the careful management of available resources and the term API economy can be used as a synonym for API management. APIs ensure that the data extracted from one software application is formatted and passed to the next application without change, even if the associated app's feature sets have been updated. While API tools have always played an important role in software development, today's demand for data integration has been encouraging vendors of all sizes to "go modular" and break complex software components down into smaller, containerized components called microservices.   By exposing the interfaces that allow microservices to communicate with each other, vendors are able to meet the needs of specific groups of customers without having to rearchitect software; it also gives customers more control over vendor applications. Experts predict that as software developers see the economic advantages of integration, many large, monolithic software systems currently supported on premises will decompose into highly-organized sets of microservices available in the cloud.   The ultimate goal of API economy is to facilitate the creation of user-focused apps that support line of business (LOB) goals and improve workforce throughput. As managers look for creative ways to monetize services and assets through APIs, it is expected that vendors will need to make API management simpler to accommodate the needs of the citizen (non-technical) developer in low-code software development environments. Quote of the Day "Even enterprises that recognize the value of APIs often treat them as an afterthought on a project list rather than a core feature." - Chris McNabb Trending Terms open API API management API gateway API cloud storage API API management platform Learning Center Connecting applications in the API economy MuleSoft's Ross Mason discusses how the API economy is becoming the new normal and why APIs are essential for connecting apps. What CIOs, developers should know about the 'API economy' 'API economy' is a catchphrase fueled by evidence that APIs are a rapidly expanding economic force. Strong API strategy matters in growing API economy As API technology advances and the API economy grows in importance, IT must implement a strong API strategy to ensure adequate multiple version control. API management for microservices: Why it matters and how to do it This tip takes an in-depth look at the challenges that API management for microservices can bring and how they can be best overcome. Why use new lifecycle tools in API management platforms? Having trouble with API quality assurance, versioning and retirement? Take a look at API management platforms that assist with lifecycle control. Quiz Yourself In a lifecycle-focused API management platform, specific types of software manage each stage of the _____ lifecycle. A. APIs B. API's Answer Stay in Touch For feedback about any of our definitions or to suggest a new definition, please contact me at: mrouse@techtarget.com Visit the Word of the Day Archives and catch up on what you've missed! FOLLOW US About This E-Newsletter This e-newsletter is published by the TechTarget network. To unsubscribe from Whatis.com, click here. Please note, this will not affect any other subscriptions you have signed up for. TechTarget, Whatis, 275 Grove Street, Newton, MA 02466. Contact: webmaster@techtarget.com Copyright 2018 TechTarget. All rights reserved.