API Management solutions involve many aspects to be effective. For starters, API Management is building secure APIs, publishing them to be reused and to be able to deploy them in an accessible environment.
This comprises regulating admission and applying their use policies, collecting analytics, and providing procedures and tools to help the developer community.
API Management solutions
Since API Management solutions vary from company to company, one thing remains constant. Certain components are needed to provide a sound solution: an API Gateway, governance of APIs, Developer Portal, analytics capabilities and support for API monetization.
Most API Management capabilities are supplied via the cloud as a SaaS solution or on-premises in a private cloud. Some even use a hybrid cloud approach. So, with all these capabilities in place, you have a complete solution to support the full life cycle of API Management.
API Gateway
An API Gateway is the main gatekeeper for any API Management solution. It’s paramount to have an API Gateway in place to enforce security. Additionally, the API Gateway has other qualities such as receiving API requesting, enforcing security, as well as passing requests back and forth.
It even goes one step further and can include a transformation engine to organize and change the requests and responses right away. It can also provide functions such as collecting analytical data.
READ MORE: API Gateway capabilities and features.
API governance
Thanks to API governance, you can track the API in each consuming application. Further, these features automate the issuance, renewal and revocation of application credentials (such as API keys, OAuth Tokens). Another benefit is that it provides visibility to avoid duplication of APIs and facilitates the creating of reusable APIs.
Developer portal
An API developer portal permits each internal or external consumer application developer to peruse, consume, construct and check your APIs for utilization to be used on their own. This component also needs to clarify the business necessity for an API. It helps fuse the distinctive styles of communication that you need to make certain that your APIs are going to be found. The developer portal is a vital element to have in place for an API Management solution.
READ MORE: Tips for selecting the correct API Portal.
Analytics
Analytics is an essential part of any API Management solution. This centers around the fact that analytics by definition measures API performance.
When you have analytics, it tells you your API usage, consumption by region, along with further insights into performance. Accurate analytics allows you to have a real-time impression of your APIs. This involves many mechanisms including usage, apps, performance and trends. Analytics is the doorstep to global metrics from volume to traffic. The real benefits provided are visibility which is part of this tool.
READ MORE: What should an API Analytics solution look like for an API Relationship Manager?
Monetization
API Monetization works to bring forth the driving revenue usage of APIs. It supports charging for access to commercial APIs.
This ability brings forward support for putting in usage, rating rules, load time and practicality, provision invoices and assembling payments, as well as different kinds of credit card payments.
Take note that API monetization is not all about collecting revenue through your API, it works to keep performance and operation for your consumers.
At the end of the day, it’s necessary to know what takes place for a sound API Management solution. Having a robust plan for all-around API Management is key.
Discover how companies are using API Management.