Build vs Buy
If you are looking to develop connections with online applications, there are two main options to consider.
The first is to build API integrations one at a time. This involves writing code and finding the right API endpoints for each connection. In addition, complex data sharing and access agreements may be required. It can be a painful and time-consuming process not just to develop but also to maintain, but it does provide complete control over each integration.
The second option is to use a data aggregation platform that integrates with multiple APIs simultaneously. A platform like this makes it easy to collect data from various sources without needing to write any code or find individual API endpoints. However, typically you have less control over how the data is collected and processed.
Boss Insights’ data aggregation platform provides the best of both worlds, allowing your development team to quickly and effortlessly create API integrations while also offering a degree of customization and control. In addition, our platform can be used to monitor performance metrics, automate data synchronization, and streamline workflows. With Boss Insights, you get the convenience of an all-in-one data aggregation solution plus the ability to drop down to a lower data access level and access the raw data to tailor the experience to your business needs.
Additional benefits of using the Boss Insights data aggregation platform include:
- A common data model which is especially geared toward helping you understand business data and helps standardize the differences in data retrieved from each data provider
- Supported integrations, because it’s our area of expertise we can save you from common pain points and help you when you encounter edge cases with expert ongoing support
- Active monitoring of API calls so we can handle any changes in the data formats from the underlying data providers
- Vendor consolidation helps to reduce complexity, save time, and improve efficiency
- Superior market coverage means the integrations you need are often already supported
- Data access agreements are managed in one place to reduce the burden on compliance teams
- Scalable, flexible architecture that can accommodate changing demand and technology advancements
As a developer, it’s easy to look at the first couple of integrations you need and underestimate the work that will be required as more requests for additional integrations come in and the amount of time you need to spend supporting them.
We hear time and again from customers that before moving to an aggregation platform, supporting integrations represented over 80% of the development cost of each integration.
Some of the reasons for this included:
- Error handling of edge cases
- Retry logic to handle errors and outages
- Uncommunicated vendor changes in data format
- Vendor performance monitoring
- API call traceability and debugging
- Misunderstood vendor ontology results in data remapping
That’s why it’s important to consider the long-term scalability of your data aggregation solution – a platform like Boss Insights can help you save time and money now allowing you to focus on more important parts of your solution while also preparing you for future growth.
Which approach is best depends on your goals and resources. If you need quick access to a wide range of data, using a platform might be the best option. However, if you have time and resources to build custom integrations from scratch, then that may be the better choice. It’s important to weigh the advantages and disadvantages of both approaches before making a decision.
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