IBM, or International Business Machines Corporation, is an American multinational technology and consulting corporation that manufactures and sells computer hardware and software as well as offering other technology related services. The company was found in 1911 and has since become the third-largest publically traded technology company in the world.

It was on this day, September 13, 1956, that IBM introduced the RAMAC 305, the first computer disk storage unit. RAMAC stood for “Random Access Method of Accounting and Control” and stored up to 5 million 8-bit characters. The system had a 350 disk storage capacity and was leased for $3,200 at the time which is equivalent to $160,000 today. During the 1960 Olympic Winter Games, IBM provided the first electronic data processing systems for the games through the RAMAC 305 computer.

The production for the RAMAC 305 ended in 1961, and the computer became obsolete shortly thereafter in 1962. IBM released the IBM 1405 Disk Storage Unit, consequently leading to the RAMAC 305 being withdrawn in 1969.