API stands for application programming interface and if that sounds like gibberish, you are already being left in the dust by the competition. APIs allow developers to build connections between their own applications and other applications, enabling data sources to interact. In the past, businesses that wanted their software systems to interact had to purchase expensive ERP software and implement cumbersome, time consuming solutions.
APIs make it easy and cheap for business tools to "talk" to each other, powering data driven decision making in real time. Businesses that use APIs will thrive, those that don't will be too slow to keep up.