2020 was a difficult 12 months for a lot of organizations as they faced sudden changes in client conduct and market dynamics. The shift to digital channels is nothing new, and even in 2019, digital was already the popular possibility for commerce and collaboration throughout many industries—however within the wake of the worldwide pandemic, these channels turned the primary and solely possibility for a lot of companies. Desire gave strategy to necessity virtually in a single day.
In keeping with Adobe Analytics, Black Friday 2020 procuring witnessed a growth of 22% and Cyber Monday noticed 15.1% increase in comparison with 2019. Extra importantly, that is going to be a long run shift. In keeping with McKinsey, over 60% of consumers modified their procuring conduct in 2020.
With in-person and brick-and-mortar operations disrupted throughout a lot of the world, the previous 12 months’s traits imply that greater than ever, a enterprise’s capacity to function relied on its capacity to insert itself into digital channels and to have interaction with prospects in new methods. APIs are the foundational mechanisms powering these digital interactions, and therefore API administration turns into a extra pressing competency for a lot of firms as they navigate the impacts of COVID-19.
The position of API administration platforms
We’ve got seen many organizations that invested in API administration benefiting in several methods throughout these difficult occasions. Listed below are some examples:
Ship innovation sooner: Firms challenged with legacy techniques had been in a position to unlock worthwhile information and providers by way of APIs, permitting builders to construct new experiences sooner. To be taught extra, take a look at this video, from Google Cloud Subsequent ‘20: OnAir, that explains how Australian Energy is leveraging APIs to build a hub for open data.
Build business ecosystems: APIs allowed organizations to collaborate and quickly integrate with partner ecosystems to transform their business models. Read this article to learn how CHAMP Cargosystems executed ecosystem strategies to help airlines navigate COVID-19 disruptions.
Automate operations with AI: During periods of peak online activity, such as Black Friday and Cyber Monday, AI-powered features like traffic prediction, anomaly detection, and API monitoring helped organizations to focus on business-critical concerns and keep services online without interruption. See this video to understand how TMobile has leveraged APIs, and the process automations they enable, across diverse technology ecosystems ranging from mobile services to machine learning to the Internet of Things.
Develop new revenue streams: Many businesses suffered declines in top-line revenue during 2020, but monetization of API products helped some to stay competitive by unlocking new sources of revenue. To learn more, view this on-demand webinar that includes how MTN Group, a leading multinational telecommunications company, is harnessing APIs to unlock new revenue opportunities.
Google Cloud’s continued innovation in API Administration
To assist organizations navigate 2020’s challenges, in addition to adapt to traits in enterprise IT which were unfolding for years forward, Google Cloud launched a number of new capabilities all year long to bolster how we assist our prospects with API administration:
Thought management, greatest practices, and engagement with the API neighborhood
We continued our engagement with the communities of builders, technical, and enterprise leaders trying to do extra with APIs.
For instance we launched That Digital Show, a podcast collection during which we share field-tested greatest practices and real-world use circumstances to assist enterprises to construct and scale their API applications. We additionally provided our Business Innovation Roadshow, which explored easy methods to suppose like a futurist to judge rising enterprise alternatives, easy methods to discern key expertise indicators, and when and easy methods to act to be able to construct an API-first technique.
We launched a brand new collection of ebooks, The Path of Most Resilience, that explores three tangible methods during which APIs assist construct enterprise resilience by way of improved operational effectivity, accelerated innovation, and the event of richer buyer experiences.
We additionally printed a variety of weblog posts and articles— in case you missed any, you’ll be able to make amends for all of the API goodness here.
Our thought management efforts additionally encompassed a number of industry-specific discussions, together with:
Final however not the least, in partnership with Oxford Economics, we surveyed over 1,000 CIOs of enormous organizations (i.e., these with over $2 billion in income), from world wide and throughout industries, to grasp their digital enterprise ecosystem methods—and the advantages they derive from cultivating these relationships. Check out the important thing findings of the survey and the position of APIs in constructing and scaling digital ecosystems.
We imagine many of the present shifts in market dynamics can have long-term implications on client conduct and the way in which companies function; even earlier than the pandemic disrupted enterprises all through the world and elevated the urgency round digital transformation, outcomes from our Oxford Economics survey indicated that enterprise leaders had been connecting APIs to the trendy digital expertise and efficiencies required to be aggressive. Digital experiences throughout a variety of kind elements—in places of work, shops, properties, or the sector—will more and more outline how work will get performed, how prospects work together with companies, and the way companies work together with each other. Interactions and automations amongst information and performance in distinction techniques will energy these experiences—and APIs will proceed to energy these interactions.
Going into 2021, to be able to reinvent and globally scale their efforts, enterprises might want to suppose past digital transformation, as which has change into a problem of desk stakes relatively than the mark of a differentiated chief. As a substitute, companies should attempt to pursue digital excellence—and meaning API administration turns into much more necessary. It’s not sufficient to easily use APIs, although that could be a prerequisite for achievement. Companies have to harness their APIs to pursue new enterprise fashions, resembling monetizing information for an outdoor viewers, or new partnerships, resembling connecting one’s personal APIs to these of social networks to be able to create richer, wider-reaching buyer experiences. Companies have to be taught from APIs, making use of machine studying to discern traits in developer and finish consumer conduct and additional fortify digital providers towards attackers. And they should lengthen their APIs in new instructions, opening them not solely to conventional builders but additionally the brand new breed of no-code software builders.
To spice up our prospects’ efforts in the direction of digital excellence, we stay up for launching a number of new capabilities within the coming 12 months that can let prospects leverage Google Cloud’s industry-leading choices to speed up their API applications. We’re excited to see what you construct with them.