The full form of COBOL is “Common Business Oriented Language” and the full form of FORTRAN is “Formula Translation”. COBOL is a high-level language, and it is used for administrative, finance and business applications, whereas FORTRAN is a programming language used for numeric and scientific computation. COBOL was developed by Codasyl in 1959. It is a structured and formalized language. It is a portable programming language used for data processing.FORTRAN was developed by John Backus in 1957. It is a free-flowing language. It is used in intensive computations such as weather prediction calculation, geophysics, computational chemistry, finite element analysis, computational fluid dynamics, etc.
COBOL was created for commercial applications, whereas FORTRAN was created for mainframe computers to translate formulas.
COBOL is a procedural language, whereas FORTRAN is a compiled imperative language.
Both are functional languages.
COBOL is not a generic language but FORTRAN is a generic language.
COBOL has weak and static typing rules but FORTRAN has strong and manifest-based typing rules.
Both are Object Oriented Programming(OOP) Languages.
COBOL is still in use in the banking sector but FORTRAN is not used much, only physicists still use this language.
COBOL was revised four times, whereas FORTRAN was revised nine times.
ALGOL(Algorithmic Language) was created by combining COBOL AND FORTRAN.
FORTRAN is not an event-driven language, but COBOL does not need to be event-driven because it can simplify programming for an event-driven environment.
COBOL is a highly effective programming language, and FORTRAN is also very effective.