API stands for Application Programming interface. It is a computer programming term, which is a set of tools or protocols to develop application software. In simple term it is a moderator of communication between variable software. It makes computer program easier to integrate building blocks and interconnect each other.An API acts as an interface between two different applications so that they can communicate with each other. An API is a method by which the third-party vendors can write programs that interface easily with other programs. An API doesn’t always need to be web based. An API consists of a complete set of rules and specifications for a software program to follow in order to facilitate interaction.
Benefits of API
· Avoid security vulnerabilities, cut down on redundant APIs, and identify gaps your developers can address.
· Identify and troubleshoot problems before they have an effect on the rest of the network.
· Looks at current and historical trends, pulls in data from multiple API calls, creates reports based on its findings, and provides other data analysis
· allocating additional resources to mission-critical connections, and eliminating redundancies within your organization
· Documents every steps, its limitations, application of other API tools
· Business depends on API. APIs are also important for the businesses that provide them, because third-party developers build out applications that further the use of the company’s core product. This saves the API provider both time and money
· There are many businesses out there that build software and tools that rely on pulling data from open APIs to help streamline a business process in some new way.
· Business people uses those apps created from API in order to analyze customer interaction through CRP; integrates areas such as planning, purchasing, inventory, sales, marketing, finance, human resources through ERP ( Enterprise Resource Planning).