1958 - Technology

Technology

The cost of 100,000 computerized multiplication computations falls to 26ยข, down from $1.26 in 1952, says IBM (see 1964).

An article in the American Mathematical Monthly by statistician John Tukey notes that "software" has become "at least as important" as the "'hardware' of tubes, transistors, wires, tapes, and the like." Tukey coined the term bit 12 years ago and now coins the word software, becoming the first person to define the programs on which electronic calculators operate.