In the last decade, offices and workplaces of all types have undergone digital transformation, moving away from traditional, paper-based systems to cloud and SaaS programs. The “Digital Revolution” has been, in some ways, just as transformative as the more famous Industrial Revolution that proved to be the foundation of the global economy in the 20th century.

The purpose of data preparation is to ensure your business or organization has accurate, up-to-date data to do its best work. This is not down to a singular process but rather a series of measures you should take, so every component of your business is running at optimal levels. 

As one publication succinctly puts it:  

“The digital economy is becoming ordinary.” 

This is the reality of today’s global economy. It is, to all intents and purposes, a digital economy. How companies operate, how transactions are made, and even how we interact with each other - is now largely done through technology. And if you don’t have a data-driven business to adapt to the present era, then you will be left behind. 

The term “digital transformation” is often heard on this blog, and it is happening around us. However, is that an accurate description of what is going on, or should we use “digital evolution” instead? Few companies can afford to completely overhaul their systems simultaneously with all the disruption it causes. Many businesses prefer an organized and structured approach towards digital maturity. 

While it might not trigger a passionate discussion around a dinner table, there’s no doubt insurance is a necessary part of life. Whether you drive a car, own or rent a house, or booked a holiday - it’s likely that we’ve had to pay for insurance at some point in our lives. And it is that necessity that drives the value of the industry, which stood at $5.8 trillion in 2020. 

There is still a common idea that the word manufacturing is associated with old factories, building dirty machines, and the din of metal clanging. Not only has this idea been wrong for decades – think of the impressive assembly lines of car manufacturers – it is now being blown out of the water by the fourth industrial revolution. 

The idea that APIs are a major driving force in the digital economy is not new. Gartner went as far as saying we were living in an API economy back in 2016. In just five short years, the world has become ever more driven by data and cloud-based systems.  

The emergence of blockchain has been synonymous with the rise of crypto. However, blockchain is revolutionizing many aspects of technology, such as supply chains, data management, and security. It operates in similar areas to APIs – which commands the question, can APIs and blockchain work together, or do they clash? 

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. 

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.