API Management: What It Is and Why You Need It

October 17, 2022
API Management: What It Is and Why You Need It

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Application Programming Interfaces (APIs) are an essential part of the digital world. Businesses and technology have built their digital infrastructure around them. 

They are such an integral part of the modern technological landscape that the software development lifecycle is incomplete without considering API management.

What is API Management?

API management encompasses the full-lifecycle management of API design, build, testing, monitoring, and implementation. It includes analysing usage, access control and management, and security and governance policy implementation.

Also, since these bits of software help other software applications communicate with each, the process also needs to manage the connection with not just each other but also with apps, servers, and consumers.

Therefore, API management platforms, like Gravitee, need to offer these functionalities, as part of their offerings, through API management tools.

Why is API Management Important?

An API allows access to the company’s data and lets users avail of enterprise assets through applications. At the same time, APIs are also used by businesses as an additional digital layer for interactions between customers, partners, and employees.

As a result, in order to secure, scale, govern, analyze and monetize the business’s programs, API management is a must. These tasks form the main components of API management.

What are the Main Components of API Management?

API Security

Since APIs are linked to a business’s data, it is important to ensure that there is no unauthorized access to them. Also, it is important to protect the business from threats which could use access through APIs to steal information. Most API management platforms have standardized policies to protect against such situations.

API Governance

This component is designed to give end-users a consistent and rich experience, especially on mobile, as that is fast becoming the users’ device of choice. The complex APIs required for that benefit from this component of API management.

Other aspects covered by API governance include API discoverability, lifecycle management, documentation, and reusability.

Governance also considers the bigger picture, where each API program has a function, which then contributes towards adding value to the business as a whole.

API Analytics

In order to create useful and successful APIs, developers need to understand their usage and performance. API analytics is the component of API management that enables them to do that. 

API management platforms offer a real-time collection and display of these metrics, allowing businesses and developers to follow the API’s use trends.

API Monetization

Monetization, or the ability to use owned APIs to generate revenue for the company, is an important part of API management. For this, the API needs to be properly licensed, with custom plans and packages.

What are API Management Tools?

As mentioned earlier, API management includes API design and development, analytics, access control and security, as well as managing communication.

In essence, API management tools are divided into the following functions: 

API design

This set of tools provides users with the ability to create APIs, as well as publish and deploy them. These may also keep a record of documentation, descriptions, security policies, usage limits, and runtime capabilities, among other things.

API gateway

While the Design tools record the security policies of an API, the API gateway is what enforces them. It also keeps track of security and access authorization.

API store

As the name suggests, an API store “stores” APIs, allowing users to catalog them. From here, they can show them to stakeholders as well as use the store as a place to distribute the APIs and get support from the community.

API analytics

Analytics can be used to measure an API’s usage and other metrics, enabling users to determine the status and success of their software.

So, a comprehensive API management platform would include the following tools.

  • Developer portal
  • Design and Development
  • Testing
  • API gateways
  • Analytics and monitoring
  • Policy management
  • Security and governance

API Management: Final Thoughts

Using a comprehensive API management platform gives businesses the ability to manage their API products better. It allows them to make better business decisions through data-driven analyses. Most importantly, it provides tools to ensure that the APIs are generating profits for the company.

API management, therefore, should be the focus of the business, even before considering API development. To learn more about APIs and how to manage them, get in touch with us.

Thomas Lambert
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