As the name implies, COBOL was intended for business data processing.
      Also, It was intended that the language could be used by novice 
      programmers and read by the managers.

Contribution:

      COBOL introduced the following concepts or features:
       1. data description which really is machine independent
       2. recursive data definitions
       3. a powerful conditional struture ( IF - THEN - ELSE)
       4. specifications for a high level language macro
       5. clear separation of procedural statements and the description
          of data
       6. useful metalanguage
       7. semi-automatic segmentation
       8. a machine independent language based on realistic hardware facilities

Source: SIGPLAN notices