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What is New Revenue Rate?

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New revenue rate is an innovation metric that is calculated as the percentage of your revenue that comes from products and services that didn't exist 3 years ago. Depending on your industry, the time span used in the calculation may be shorter or longer. The goal of innovation is to create products that represent improvement by an order of magnitude. Therefore, minor upgrades to existing products are typically excluded from the calculation of new revenue rate.
Overview: New Revenue Rate
Type
Innovation Metric
Definition
The percentage of your revenue that results from innovative new products and services.
Related Concepts
New Cost Rate
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