Generation in computer terminology is a change in technology a computer is/was being used. Initially, the generation term was used to distinguish between varying hardware technologies. Nowadays, generation includes both hardware and software, which together make up an entire computer system. There are five computer generations known till date. Each generation has been discussed in detail along with their time period and characteristics. In the following table, approximate dates against each generation has been mentioned, which are normally accepted. Following are the main five generations of computers. S.No Generation & Description 1 First Generation The period of first generation: 1946-1959. Vacuum tube based. 2 Second Generation The period of second generation: 1959-1965. Transistor based. 3 Third Generation The period of third generation: 1965-1971. Integrated Circuit based. 4 Fourth Generation The period of fourth generation: 1971-1980...
In this chapter, we will discuss the application of computers in various fields. Business A computer has high speed of calculation, diligence, accuracy, reliability, or versatility which has made it an integrated part in all business organizations. Computer is used in business organizations for − Payroll calculations Budgeting Sales analysis Financial forecasting Managing employee database Maintenance of stocks, etc. Banking Today, banking is almost totally dependent on computers. Banks provide the following facilities − Online accounting facility, which includes checking current balance, making deposits and overdrafts, checking interest charges, shares, and trustee records. ATM machines which are completely automated are making it even easier for customers to deal with banks. Insurance Insurance companies are keeping all records up-to-date with the help of computers. Insurance companies, finance houses, and stock broking firms are widely ...