In the following, I would like to give you some tips on data security. At dailypoint™, we have very strict password rules to ensure security of the highly sensitive data of our clients. Slight alterations in your password rules can have a huge effect on your data security.
Password security is pure mathematics. The higher the number of possible combinations, the longer it will take to hack them. Hardly anyone is aware that nowadays it only takes a few seconds to hack a password. This is, of course, a tremendous problem. The passwords we use at dailypoint™ have at least 13 characters, contain upper case and lower case, numbers, and special symbols. Yes, that is long and more complicated than the four, six or eight digit passwords, which are mostly used. But this effort makes a huge difference! Do you know that in case of a claim, insurance providers may deny coverage due to gross negligence, if they consider the password rules to be insufficient? This could be disastrous and put managers in trouble when it comes to potential liability claims.
Today, passwords are hacked with so-called Bruce-force attacks. These are computer programs, when used professionally, have extreme processing power across networks and are thus able to check a huge number of combinations per second to identify the right match. This means that a six-digit password can be hacked in less than a second! But now mathematics comes into play. It already takes 1.5 minutes to hack an eight-digit code. And if the length and the number of symbols are increased, the number of potential combinations rises exponentially to, for example, 2.000285392686698e+23 for the passwords we use at dailypoint™! That means it would theoretically take 2.9 million years to hack one of our passwords. This proves that a slight alteration in the password rules you can definitely enhance your data security!
We highly recommend that you not only review your password rules, but also check the security concepts of your partners. Make it your responsibility and avoid any negligence.
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Operating at the intersection of business and technology, Dr. Michael Toedt helps hoteliers with the software dailypoint™ to use the tremendous increase of data in order to become data-centric. Dr. Michael Toedt has over 25 years of experience in operations, technology and marketing. He is the author of several books – among others the German version “Big Data – Herausforderung und Chance für die Hotellerie (ISBN: 978-3-8751-5305-7) and “Data Revolution – How Big Data Will Change the Way of Doing Business” (ISBN:978-3–7375-1688-4) and his articles are published by journals on a regular basis. Dr. Toedt holds a doctoral degree in management science. He is lecturer at several universities and assistant lecturer at the University of Applied Sciences of Munich for the subject “Customer Relationship Management in Tourism”. Apart from this he speaks at various hospitality events and fairs such as ITB, HITEC, Internorga, Austrian Hotel Society ÖHV or Cornell Hotel Society.
Managing Partner, CEO