Role of Computer in Economic Development

Reader Impact Factor Score
[Total: 5 Average: 5]

Published on International Journal of Economics & Business
ISSN: 2717-3151, Volume 1, Issue 1, page 189 – 197
Publication Date: 29 October 2018

Alhaji Umar Lawal Aliyu
Faculty of Management, Department of Business Administration
LIGS University Hawaii, USA

Journal Full Text PDF: Role of Computer in Economic Development.

The trust of the paper is therefore to examine and assess the role of computer in economic development. It can hardly be denied that computers have considerably changed the lives of human beings. These days, majority of us cannot imagine our lives without them. A number of organizations have recognized the importance of computer technology to the extent that they use computer in whatever they do. In fact, computer has come a long way since it was first invented and the power of technology in the spotlight is virtually all over the world. However, as the world progresses on in this never-ending chase for good and better standard of living, it is undeniable that computer science has made astounding progress in growth and development of most countries all over the world. Although computers are bringing the evolution of technology and changing the way lives are lived, it cannot be denied that there are areas where the computer has disadvantages. For example, it will be good to note that even though computers are introduce with the view of making things easier for those who use them but it has also become an avenue for the easiest fraud to take place in the whole world because it has one Logo: “Garbage in – Garbage Out. As the 21st century looms ahead, it is clear to see that it has advancements that humanity may never have dreamed of, one of these shining developments is the well-recognized services, achievements and growth, and development computer has caused in countries all over the world. The accurate knowledge and use of computers has brought change in a big and astonishing way, as it has led to the demolition of illiteracy, and lead to optimism, efficiency, productivity and high quality growth and development all over the world.

Keywords: Computer, Development, Economic Growth, Economic Growth, Organization, Technology.

1. Introduction
Computer is an electronic device, which is capable of receiving information (data) in a particular form and of performing a sequence of operations in accordance with a predetermined but variable set of procedural instructions (program) to produce a result in the form of information or signals. A computer is a machine or device that performs processes, calculations and operations based on instructions provided by a software or hardware program.
It is designed to execute applications and provides a variety of solutions by combining integrated hardware and software components. The computer industry began in the late forties with a very small initial investment but as today increase in both strength and importance. When one looks back with analytical mind, we can conclude that computer technology keeps on advancing with remarkable increase in speed, accuracy and reliability. Computing in whatever field, science, management, business, agriculture, and industry etc. is reaching directly or indirectly into various aspects of our society thereby, without loss of generality has shrunk the world into such a compactness that no part can afford to lack behind or live in isolation.
Run this thought experiment: think of devices or process in your place of work, which in some way or another are backed by computers. Now, think about what the state of affairs were like before computers began doing those tasks. Think of the level of productivity before and after. Computers make human productivity easier, faster and higher. Rather than struggling to precisely cut out metal shapes by hand for hours, a computer guided CNC machine using the coordinates on the metal sheet are fed into the computer system which can have such cut out in a matter of seconds and hundreds- if not thousands cut out in a matter of a few hours. Computers facilitate the capturing and storing of data, performing calculations to turn the data into information, and communicating both the data and information. They also can control things without constant human intervention, freeing human effort to create wealth. Computers are just the latest advance in information storage and communication, a process that began in ancient Sumer about 6,000 years ago with the invention of writing and the evolution of arithmetic.
Information is essential for economic growth and development; computers are the most recent advancement. Computers improve calculations, Foster new empirical techniques, New data management and production, Removing theoretical strictures, Helping theorem-proving, Replacing theorem-proving, New markets requiring new modes of analysis, New models of behaviour and market interactions inspired by computer science ……