These computers were more economical than the First Generation by using transistors rather than vacuum tubes plus these computers were smaller and weighed less. They also used magnetic tape which made the computer read and write operations and calculated things faster than the previous generation. These computers had actual operating systems which made it possible for programmers to write instructions or codes. These computers could be used and bought by more people because they used less power, were smaller, and more affordable.
One computer from this time was the GE ERMA made by General Electrics which was useful because it processed checks at banks to make it easier for tellers by using magnetic ink character recognition. This computer was made in 1959.
Another was the PDP-1 by DEC. This was the first computer with a keyboard and a monitor. This was revolutionary because you could use it for more operations and/or see how the computer is doing. This computer was made in 1960.
One last computer was the Atlas which was credited as the world's fastest computer. It was debuted in 1962 in England.