There has been a huge shift in the big data and analytics space in recent years that can mainly be attributed to the API economy. The public availability of APIs from companies, big and small, has resulted in an exponential growth of data. Keeping this in view, the use of open APIs should be a major part of your company’s big data strategy since the benefits are endless and the ROI is enormous.
Increased data volume
The use of APIs allows developers to access company source code and build 3rd party applications that bring in more users resulting in a boost in data volume for the company at almost no additional cost.
Faster access to data
APIs can provide big data applications faster access to the company’s data storage which leads to faster data retrieval, processing, and analytics.
Access to public domain
The use of APIs is not limited to the developer community anymore like it once was. Now, with public access to APIs through applications, anyone can make an API request and receive a response from the company server. This has been the major factor in the huge growth of big data in recent years.
In short, the use of APIs provides a level of convenience, efficiency, and financial gains, that has become inevitable for business to make open APIs a part of their business development in order to drive growth.