The Connectivity Benchmark Report is a new research report that highlights how traditional businesses are quickly evolving into “composable enterprises” built out of hundreds of connected software services and applications.
To launch a new product, create a new service or improve what they already have, businesses need to quickly connect applications, data and devices. Their ability to stitch all these parts together determines whether they win or lose in the market.
What does that mean for the CIO? It means the CIO’s job is no longer just to keep the lights on and the network running. The CIO needs to be a business strategist, creating technology platforms and capabilities that will accelerate innovation across the enterprise. To put it another way, the Chief Information Officer is transforming into the Chief Integration Officer, responsible for fueling business success by connecting the unconnected.
With more businesses embracing cloud, mobile and the Internet of Things (IoT), not to mention microservices and wearables, businesses have huge opportunities to generate revenue in new ways while upping their competitive game.
Key highlights from the report include:
APIs are revenue drivers
More than 50 percent of IT decision makers say they are generating revenue through an API or will be within a year and approximately 33 percent of financial services organizations and 50 percent of media/telecom organizations are making more than $10 million through this channel alone.
CIO Trend to Watch: CIOs will play an increasingly strategic role in developing new lines of business that sell services through APIs.
CIO Trend to Watch: As CIOs embrace Docker and related containerization technologies, they will create API-led, microservices-based architectures that will impact the way teams are structured and services are delivered. APIs and API management will be critical to manage these services and accelerate the trend toward self-serve IT; this will give line-of-business groups the ability to innovate faster by building their own applications on top of the managed APIs provided by IT.
IoT is a top business priority
77 percent of IT decision makers say they already have an IoT strategy in place with the main drivers being to improve the customer experience and engagement (41 percent) and improve business operations and maintenance (38 percent).
CIO Trend to Watch: CIOs will use APIs to connect together a network of IoT-ready devices and applications to deliver a real-time flow of information about their customers’ behavior, supply chain and day-to-day operations.
The report’s findings indicate that connectivity is the the center of business transformation, enabling organizations to adapt, innovate and transform faster than the competition. With 86 percent of IT decision makers noting that they are under “moderate” to “extreme” pressure to deliver services faster than last year, I expect to see these trends manifest in all organizations across industries this year and into the future.
See the full MuleSoft 2015 Connectivity Benchmark Report here and infographic of the results below.