Over the last decade, there has been a relentless march towards digitization. Once the preserve of only the most advanced and biggest companies, cloud technology is rapidly becoming the mainstay of business. All companies, large or small, can now afford to invest in the latest technology that allows for automated processes, faster connections, and more efficient operations. 

With the pace of technological evolution and the rise of the digital era, companies can challenge companies to retain their competitive edge. A key aspect is the management of data generated in eye-wateringly record numbers, as illustrated by the fact that 90% of the world’s data was created in the last two years up to 2020 alone.  

For any business, handling and processing this data poses a real challenge, but it can lead to missed opportunities and costly errors for small-to-medium-sized companies. One solution is to turn to an API integration platform that can serve as an efficient gatekeeper to the data flowing in. 

Over the past decade, ecommerce has enjoyed accelerating growth as shoppers become more comfortable with online retail. The full impact of the Covid-19 pandemic is yet to be fully understood, but according to eMarketer, early indications suggest that the global ecommerce market grew by 27.6% to a total value of $4.280 trillion against a pre-pandemic prediction of 16.5% growth.

In today’s digitized economy, speed and convenience are of the essence. Tasks that used to take days or even weeks can now be completed within seconds. Email is an obvious example, where letters can be sent at the click of a mouse to anywhere in the world. However, in the digital age, business process automation has become increasingly sophisticated. 

The digitization of the global economy is happening and is growing fast. Even regions normally associated with less development are seeing a rapid take-up of technology. For example, Kenya is at the forefront of mobile payment systems, with one service being used by two in five Kenyans. The advance of the digital economy will continue into the next decade and beyond. 

API management can be a challenge in a constantly evolving technological environment. By turning to API management solutions, businesses have assistance in creating, implementing, and securing APIs. However, there are some common pitfalls to look out for.

The role of APIs in business is increasingly vital and yet little understood. Acting as a vital link between the front and backend of systems for decades, its importance is only going to increase further as we enter a new decade set to be driven by data. The nearest estimate we have is that 2.5 quintillion bytes of data is produced - each day. 

In 2020, a year of upheaval and unparalleled challenge many companies are belatedly coming to the realization that they need to undergo digital transformation through API integration to thrive in the next decade. In spite of the tragedy and disruption caused by the pandemic, the old adage of a crisis spurring a new wave of innovation rings true.

As we begin to look back to 2020, it’s clear it has been a challenging and utterly disruptive year for many businesses. However, it has also been a year of transformation, as companies are being forced to evolve and update age-old technologies and processes. At the heart of this period of change have been API management platforms, helping to guide companies through the transition.

The fact that data together with the use of technology will be key to future economic growth has been widely known for some time. However, with 89% of companies facing challenges in managing data, it’s critical to find and use API integration tools to harness the power of data in the internet of things (IoT) era.