It’s tough to understand how giving away software for free has any sort of monetary return.
You might put thousands of hours into creating a program.
So, what is the draw in giving it all away in an open API? Even someone of pure altruism needs to pay the bills.
However, some of the most successful businesses, like Google and Amazon, take time to write and maintain extremely thorough APIs for their applications. As far-fetched as it sounds, there are benefits to be reaped from providing open access to your application.
To better see how data sharing can be mutually beneficial, you must first understand what data sharing truly means.
When a company creates an Application Program Interface (API), they are taking the foundation of the application they’ve created and allowing others to build upon it.[/vc_column_text][vc_video link="https://www.youtube.com/watch?v=7r7QpIDEI_o"][vc_column_text]With an open API comes exposure and the possibility to rise above your business’ direct competition.
One thing an API does is allow open integration and partnership with other applications.
Take Uberfor example. The company recently created an API that makes it easy for other businesses to integrate Uber into their own application, permitting them to call for a driver directly without having to open up the Uber app itself.
This creates a mutually beneficial relationship for both companies: enabling added functionality for the third party app and additional exposure and business for Uber.
Creating an API opens up internal possibilities in expanding your product base.
An API can act as a time- and budget-saving stepping stone in the creation of applications on other platforms, like web or mobile. Producing applications on multiple platform adds potential to reach larger audiences on more devices.
Understanding the advantages and exposure your company garners by creating an API may just be the nudge another business needs to expand.
— Andrew Michienzi