APIs are an essential component of today’s digitalization and digital transformation efforts. But how can you define and measure the status and success of individual APIs, API landscapes, API programs, and API platforms? Eric Horesnyi, Catalyst at Axway, conducted a study of real-world key performance indicators (KPIs) that large organizations are using for their API initiatives.
No organization would create and offer products without having a plan for how to manage them, and the very same thing is true for APIs.
KPIs for APIs
In order to manage APIs effectively, it is important to treat them as products, or rather, to make APIs part of the product management practice. And while KPIs are not the only thing necessary for managing APIs as a product, it is important to have them so that there are clear objectives about what should be achieved, and clear ways of how to measure progress and success.
In this interview, Eric presents the three categories of KPIs he found in his research, presents examples for each of these three categories, and gives advice on how to avoid KPIs that may not measure the right things.
1. KPIs for measuring revenue and growth, and for measuring the consumption of services.
2. KPIs for controlling cost, for measuring cost savings, and for improving efficiency.
3. KPIs for risk mitigation and for improving resilience.
If you are interested in the full presentation of Eric’s research and results, including many more examples of real-world KPIs for APIs, please click here to gain access to the complete presentation of KPIs for APIs (presented as a live webinar on August 27, 2020, and available as replay after that date).
And if you liked this video, why don’t you check out Erik’s YouTube channel for more “Getting APIs to Work” content?