What is the significance of 4.7 in electronics? Answered

Why are most electronics components available in multiples of of 4.7?  I've been noticing this a lot recently when looking for components, and it seems like an odd choice to be a common division, seeing as it doesn't divide nicely, and isn't a particularly easy value to work with.

If anyone knows why 4.7 is one of the most common values, I'd be interested to know.

Thanks.