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Top API Product Metrics Every Development Team Should Use

An API product is a group of API resources with quota controls and metadata that you may utilize to provide your developer community with specialized and productized API bundles. Most API products provide you the ability to dynamically repackage APIs without further code or setup. API product metrics allow API-driven businesses to look at more than just engineering metrics like failures and latency.

API metrics provide information about how effectively your application is operating. These are valuable metrics for website comparison, and keeping track of them across longer time frames is worthwhile. Operational metrics are the most fundamental subset of the API performance metric structure. The measurements include CPU, memory utilization, or the number of API calls.

One of the most crucial areas of strategic alignment for a successful API strategy is creating a framework to link digital investments directly to metrics and key performance indicators (KPIs). You can build effective API analytics efforts on solid KPIs.

This article will focus primarily on API Product Metrics useful for a Development Team.

What Are The Top API Product Metrics?

Triangle of API product metrics

Request Per Minute (RPM)

Request Per Minute is a performance parameter that measures the number of requests your API can process per minute. RPM is the average number of requests, though this might vary.

Average And Maximum Latency

P1 latency, more popularly known as elapsed time, is a crucial indicator of how customers are treated. This KPI has specific measures (such as networking times, server processes, and upload and download speeds) to measure the performance of APIs and, by extension, the programs that depend on them.

Errors Per Minute

It’s crucial to keep track of how frequently your APIs fail since it’s not an issue of if but when. Knowing whether the API fails helps you choose a course of proper action. For example, you can either switch service providers or create a specific fallback situation.

CPU And Memory Usage

An overcrowded server, by high CPU use, may have severe bottlenecks. Understanding how much memory is being used will help you evaluate resource consumption. Based on these two, you may choose between upgrading or downgrading.

Uptime

Availability or uptime is the industry standard for determining the availability of a service. Uptime is typically a part of the SLA (Service Level Agreement), which is a common component of enterprise agreements.

There is minimal to no room for mistakes for software vendors under many business SLAs. To deliver this level of service, a provider’s upstream APIs must be properly working, which requires API monitoring and analytics to maintain performance and immediately address any issues.

Time To First Hello World

Since the first expression you write in a new programming language almost always produces the word “hello world,” TTFHW will be relatively evident to the majority of developers. Time to first hello world in this situation refers to how long it takes a user to complete their first API transaction after arriving at your website.

API Calls Per Business Transaction

The number of calls made for each transaction must be kept to a minimum, even though more is better for many goods and company KPIs. This measurement reflects the API’s development process precisely. If a new user makes three different calls to combine the data, the API might not have the necessary endpoints accessible. When building an API, it’s essential to take the customer’s goals or a business transaction into account in addition to functionality and endpoints.

API Retention

To establish whether an API can enhance the performance of an application, product engineers use the API retention method. Higher retention APIs have a better chance of meeting demand without seeing any churn.

Top Customers By API Usage

Tracking the top API users for any company with a B2B focus can help you better understand how your API is used and where there are extra chances. These KPIs often generate more income and organic referrals when compared to other performance indicators.

Examine how your customers use API requests to better comprehend the precise endpoints.

API Usage Growth

Unique clients and API usage are the most crucial measures for assessing API adoption. An API should not only be free of errors but also continuously improve. When measuring API usage, instead of requests per minute, you can find genuine patterns over longer time periods, such as days or months.

Unique API Consumers

During the API’s growth phase, this performance indicator displays the general condition of customer acquisition and growth. To assess the overall health of the product, you can use a singular customer account of an API as a unique API metric.

SDK And Version Adoption

Various API platform teams maintain many SDKs and connectors. More significant features may be selectively rolled out to your most well-liked SDKs, while less significant features may be selectively rolled out to less well-liked SDKs. Measuring the API or SDK version is another important consideration when considering whether to deprecate specific endpoints and features. You wouldn’t want to phase out the endpoint that your biggest paying client uses without first asking them why they use it.

Why Should You Use APIs From APILayer?

Although managing API metrics can be challenging, firms are embracing and even re-engineering API use metrics to satisfy customer expectations as infrastructure consumption rises. The best programming interfaces to date all emphasize their users, which is a trait common to all of them.

Anyone who develops and makes use of APIs must monitor the relevant API metrics. APILayer is a marketplace for APIs made by businesses, independent software contractors, and the APILayer team. Before we can even see it, the APIs go through a thorough inspection and have an on-demand SLA.

If you are interested, sign up with APILayer for free!

Frequently Asked Questions

Which are common API metrics?

Request Per Minute (RPM), Average and Maximum Latency, Errors Per Minute, API usage growth, Uptime, CPU and Memory usage, Unique API Consumers, Top Customers by API usage, and API retention.

What are KPIs for APIs?

Setting and tracking KPIs gives IT executives, developers, and program managers a standardized point of reference for your APIs’ performance. 

How do you measure the success of an API?

You can measure the success of API by monitoring the traffic it generates and amount of apps and developers who use it. Furthermore, monitoring the quality of service and the revenue generated by third-party services that use the API can help to measure the success.

What is SLA for API?

A service-level agreement (SLA) outlines the products or services to supply and the metrics by which the process’ efficacy is reviewed and approved. This establishes expectations between the service provider and the client.

How do I monitor API services?

You can use pre-made API monitoring tools, which increases the security of your system.

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