>>"By Kati Hvidtfeldt, Principal Program Manager, Microsoft Dynamics NAV, and former US Microsoft Dynamics ERP Cloud Lead
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>>The cloud is more important than ever before. Despite initial resistance, the cloud business in Microsoft Dynamics ERP has grown exponentially. From non-existence we’ve moved to strong performance, with more than 120 active US partners and 60% CAGR on revenue over the four years since we started. "
>>
>>Is 60% annual growth exponential?
>>I guess it is if the exponent is less than one.
>>If that's the case, isn't all growth exponential?
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>Compound interest and CAGR are examples of exponential growth. She's saying revenues can be described with a 60% APR increase compounded annually.
>
>Probably the actual chart of revenue growth is not smoothly exponential but an exponential curve can be fitted.
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>Not all growth is exponential, check the Wikipedia article.
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>Also, like bacteria in a Petri dish, exponential growth can't continue indefinitely, resources run out (e.g. customers).

As I read the Wiki article, if the growth is proportional the current value it is exponential.
So is it the case that zero growth over 4 years is exponential but 10% this year and 5% next year is not?