Revit 2015 installation error: A newer version of this software is already installed.

If you are installing the Building Design Suite Premium or Ultimate 2015, you will get this error when installing Revit 2015.

A newer version of this software is already installed.

Please check out this Autodesk Knowledge Article to solve your problem:

http://knowledge.autodesk.com/support/revit-products/troubleshooting/caas/sfdcarticles/sfdcarticles/Installation-Error-A-newer-version-of-this-software-is-already-installed.html

Thanks to Jeremy Hanson and Jeffry Asbury for sharing this tip with the community.