Responsive time-shared computing in business its significance and implications

Of the many thousands of businesses in the United States today, it is probable that no two use identical office and accounting procedures. Yet in general it would be safe to say that in any business incoming data are processed, with reference to a file, using established procedures, to yield six broad types of results: 1. Updated file records. 2. Operational documents, such as invoices, purchase orders, pay checks, and the like. 3. Exception notices, status reports, and responses to inquiries regarding the standing of such items as accounts receivable, inventory or personnel records. 4. Historical documentation required by custom, law, auditors, tax officials or boards of directors, whether in the form of printed reports, microfilm or magnetic tape. 5. Reports required by management in addition to, or preferably in place of, the historical documentation mentioned above, consisting primarily of a listing of situations which vary substantially from established norms (that is, exception reports intended for executive policy-making as opposed to those needed by operating personnel). 6. Analytical results, such as sales forecasts and answers (obtained through simulation) to the question "What would happen if ... ?" so frequently asked by management and important to effective policy decisions.