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  "documentTitle": "The Ultimate Guide To ARR",
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  "notes": "Includes a reference to Jeff Bezos's 2000 shareholder letter.",
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      "kind": "paragraph",
      "text": "The components of ARR tell you the direction of the trend at any given time: is it increasing, decreasing, or staying the same?",
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      "text": "Cohort analyses help you understand how customers perform as they age and how that performance compares across different customer vintages i.e., cohorts.",
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      "text": "This kind of enduring growth has been described in many ways. One of our favorites comes from Jeff Bezos's annual shareholder letter in 2000.",
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      "text": "OK, but what does that mean, and why is it important?",
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      "text": "Cohort analyses are the most straightforward way to see if your business is acquiring sticky customers and whether or not those customers are increasing their spend over time. Demonstrating an ability to do both is the secret to unlocking sustained, durable growth.",
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      "text": "BY CHRIS BURGNER, HEAD OF FINANCE AND ANALYTICS",
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      "text": "CHAPTER 3",
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