{"id":5451,"date":"2015-06-15T07:00:14","date_gmt":"2015-06-15T15:00:14","guid":{"rendered":"http:\/\/formtek.com\/blog\/?p=5451"},"modified":"2015-05-06T19:52:28","modified_gmt":"2015-05-07T03:52:28","slug":"apis-virtual-assets-that-are-the-key-to-driving-a-high-tech-business","status":"publish","type":"post","link":"https:\/\/formtek.com\/blog\/apis-virtual-assets-that-are-the-key-to-driving-a-high-tech-business\/","title":{"rendered":"APIs: Virtual Assets that are the Key to Driving a High Tech Business"},"content":{"rendered":"

Companies like Uber, Airbnb, Facebook, Alibaba, and Paypal\u00a0are examples of businesses that have high valuations but which don’t have any physical assets<\/a>. \u00a0One thing these businesses do have though is software and these businesses are experts in using\u00a0Application Program Interfaces (APIs) to expose their data and software algorithms to increase their business’ value.<\/p>\n

Programmableweb.com\u00a0estimates<\/a>\u00a0that there are over\u00a012,000 different APIs<\/a>. \u00a0Harvard Business Review<\/a>\u00a0estimates that Salesforce.com generates half of its revenues from APIs. \u00a0Expedia generated 90 percent, and eBay 60 percent.<\/p>\n

Brian Lillie<\/a>, CIO of global data center provider Equinix,\u00a0said that<\/a>\u00a0\u00a0“CIOs should care a lot about APIs, because they are a way to unlock data and make it available to enterprise applications, customers and partners. \u00a0APIs can liberate your data… \u00a0Writing reports on these old systems takes a lot of work and a lot of people. \u00a0But if you put a handful of APIs in front of that old system of record, you can expose the trapped data to developers who can easily extract it. \u00a0APIs eliminate the need to write custom reports in archaic languages, like COBOL. \u00a0It\u2019s a powerful way to give self-service to your organization.”<\/p>\n

Lillie said that “with the Internet of Things (IoT), we are going to see a tremendous number of devices and consumer products producing and communicating a huge amount of data… \u00a0Over time, every one of these devices will have the ability to communicate via an API in an integrated, consolidated and standardized way\u00a0When APIs meet the Internet of Things, the result is going to be game-changing for most companies.”<\/p>\n

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Companies like Uber, Airbnb, Facebook, Alibaba, and Paypal\u00a0are examples of businesses that have high valuations but which don’t have any physical assets. \u00a0One thing these businesses do have though is software and these businesses are experts in using\u00a0Application Program Interfaces…<\/span><\/p>\n

Read more ›<\/a><\/div>\n

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