December 12, 2023
API Productization: What makes API a Product?
API productization involves transforming APIs into full-fledged products with life cycles, pricing, and strategic planning. This process, integral to digital product strategy, comprises five stages: Ideation, Construction, Growth, Maturity, and Retirement. Successful API management includes ideating solutions, developing with an AGILE methodology, ensuring market fit, measuring profitability, and retiring or versioning as needed, highlighting APIs' evolving role as revenue-generating, strategic assets in the digital economy.