Herman Hollerith, an American inventor, revolutionized the way statistical data was processed by inventing the punched card calculator. Issued US patent #395,791, this invention transformed the landscape of data processing through the use of punched cards, which employed holes punched in the cards to represent data. Each card could hold multiple data points, and specialized machines were designed to read these cards, automating the calculation process. This innovative system reduced the time required for data computation significantly, making it a crucial tool for organizations handling large volumes of statistics.

Initially aimed at improving the efficiency of the US Census, the punched card calculator proved invaluable for various applications beyond census data, such as business and academic research. Hollerith established the Tabulating Machine Company, which later became part of IBM, further cementing the significance of his invention within the realm of business data processing. While Hollerith's system was groundbreaking, it also laid the foundation for the development of modern computer technologies, influencing how data would be collected, processed, and analyzed in the centuries to follow.

The use of punched cards continued into the mid-20th century, playing a critical role in the development of early computers and programming techniques. As the world moved towards electronic data processing, Hollerith's contributions were integral to the transition from manual record-keeping to computer-based analytics, paving the way for the information age. His innovations also sparked an interest in statistics as a vital area of research, highlighting its importance across diverse fields such as economics, social sciences, and market analysis.