5 Steps to Tap into the API Economy and Monetize Business Assets
APIs are a foundational technology that enable companies to compete and thrive in the digital economy by providing programmable access to systems and data that have strategic and economic value. The ecosystem created by connected enterprises, customers, and suppliers via APIs is being called “The API Economy.” Many companies are looking to tap into this economy in order to monetize their business assets.
In this guide, we will discuss the initial steps to tap into the API economy, including how to:
- Establish your business case and roadmap
- Ensure you have the right funding and organizational model
- Treat APIs as products
- Ensure you have the right technology platform
- Measure and monitor API KPIs