The value APIs bring to the modern world is hard to quantify. They are invisible to most of us yet so integral to our lives. Without these back channels churning away in the background, the digitized world we live in would simply grind to a halt. It would set back many technological advances by at least a decade or more, with inflexible communication systems, less accessibility to real-time information, and restricted automation. 

Having gone from being a bit-part player to the mainstay of businesses in just a decade, APIs are pivotal to the processes that make companies tick and generate growth. In our previous posts, the team at Universal Adapter has gone into detail and explained how APIs work and what they do. 

APIs form the backbone of many businesses, serving as the vital connection between back and front-office systems. Its role in UI and UX is invaluable in the sense it enables companies to simplify the customer journey when they visit websites and applications. Given its critical role in the recording and management of data and providing a seamless customer experience, API security is paramount. 

We talk a lot about data security and the threats posed by attacks from hackers and other actors. The risk posed is real and should be taken seriously. However, there is another weak link when it comes to securing the data that makes a business tick - and that’s you. Whether you are an employer, employee, or a stakeholder, the importance of understanding how to handle data is critical. 

In the race to get ahead of competitors, it can be easy to overlook the importance of API governance. As the beating heart of digital transformation strategies for companies, a structured oversight for APIs is essential. The role of a governance structure is to ensure existing APIs are: 

To understand the impact of API performance on a business, we need to look at how users and customers behave online. Almost half of the internet users expect web pages to load in two seconds or less, with each second of loading time potentially leading to a 7% drop in conversions. In these instances, time does cost money. 

Data governance describes the process that oversees the management of the availability, integrity, security, and usability of data within enterprises. The purpose is to implement policies designed to ensure the quality of data and its usability across systems. The broad spectrum of data governance means that it penetrates every aspect of business operations, particularly as digitization takes hold. 

Cryptocurrency, online banking, peer-to-peer lending: Each of these terms emerged in the last decade under the umbrella of fintech, the fast-emerging industry that combines finance and technology. The day-to-day impact of fintech can be seen in all aspects of business, such as contactless payments, cheaper and quicker international transfers, and more efficient and easy-to-use accounting software.

The sheer amount of data processed on a day-to-day basis poses a challenge to anyone and anything. According to the latest estimates, 2.5 quintillion bytes of data are being generated each day. To get your head around this figure - here’s what it looks like in numerical terms: 

2,500,000,000,000,000,000 

Put in another way; if you were to find this many American pennies, it would cover Earth - five times over. Data velocity is only set to increase in the coming years, and companies need to build the infrastructure to manage the data efficiently. A vital component of this are API gateways.  

When “Moneyball” was first released in 2011, it revealed the secrets to the success of the unfancied Oakland Athletics baseball team’s 20 game winning streak in 2002. The secret was the emergence of sports science and a focus on deep data analysis. Much like Warren Buffett’s famous value-based investment model, the Athletics looked out for undervalued players and brought them together to form a winning team.