I just have the free version right now so I don't know all that the pro one can do. But even the free version has A LOT of tools you can use, I haven't even figured them all out yet. But one that I have used is their Content Optimizer. You can take a new or existing content piece of yours, and compare it to one of your competitor's pieces on a similar topic, and see where you might be lacking based on the keywords that are used in each piece.
Let's say you're considering starting a new website, or venturing into a new product niche. And, suppose you'd like to somehow determine how much search buzz is currently hovering around this topic. You can use Keyword Researcher to get a "feel" for how much interest is actually out there. For example, let's say you were selling cameras. Then you might consider the following:
Long Tail Pro is a keyword research tool. Keyword research helps you find exact keywords that people are actually searching for. Some keywords are high competition (meaning it is harder to rank for on your site) and some have lower competition (easier for you to rank). How does Long Tail Pro work? First it finds the actual keywords for you based on the ‘seed keywords’ that you input. Then it helps you analyze the competition to see which keywords will be harder or easier for you to rank. How does this benefit you? You can take those ‘easier to rank’ keywords and use them in your content to increase search engine traffic to your site.

This is slightly more complicated than it used to be, because you have to actually create a live AdWords Campaign as part of the process! This puts many people off, as it looks as if you have to actually advertise in order to use the tool. You don’t — you can just setup the campaign and then pause it before it runs so you don’t have to spend a penny.
This is one of the best articles on Keyword research tool that I have encountered. However, To add more to this, I just wanna point out a tool (LSI Graph) for an outstanding long tail & semantic keyword research. After the recent Google algorithm, Google is now, however focussing more on context & semantics than keyword alone. What do you think about it?
1) SEMrush - I believe that among all the 3rd party software, SEMrush has the largest keyword database. Their search volume data is pretty accurate and aligns with the Google keyword planner. Also, based on the type of content that needs to be produced (i.e. informational, transactional, etc.), one can utilize different filtering options available in it.
The ubersuggest keyword suggestion tool is ideal for those people who would like to perform some quick and easy keyword research for their blogs. It is one of the simple and user-friendly keyword research tools that you can find in the market out there. Even though the tool is simple, it is very powerful as it has helped several users to optimize their websites. It is an absolutely free tool that produces real and reliable data, comprehensive keyword research results, and is incredibly easy to use.
The relevant keywords that you target with your ads will bring the right audience to your website. Showing your ads to people that type relevant keywords will result in higher click-through rate (CTR), lower cost-per-click (CPC) and higher conversion rates for your business. As a result, you will spend less money on advertising and generate a better return on investment.
For example, assume your search ad generated 5,000 impressions in one day, of which 100 visitors have come to your site, and three have converted for a total profit (not revenue!) of $300. In this case, a single visitor for that keyword is worth $3 to your business. Those 5,000 impressions in 24 hours could generate a click-through rate of between 18-36% with a #1 ranking (see the Slingshot SEO study for more on potential click-through rates), which would mean 900-1800 visits per day, at $3 each, or between 1 and 2 million dollars per year. No wonder businesses love search marketing!

So whilst Long Tail Pro has just continued to grow in revenue every single year and comes highly recommended, you may want to check if all the important features are fully functioning before signing up. Especially the KC feature (keyword competitiveness) as it is so fundamental to keyword research and making an informed choice on whether or not to go into a particular niche.

* Please note our tool currently assumes Google having ~ 83% of the market, with Bing + Yahoo! splitting the remaining 17% of the market. Actual market conditions may vary significantly from that due to a variety of factors including: search location, search market demographics, how much marketshare mobile search has relative to desktop in that particular vertical, etc.
Long Tail Pro is a keyword research tool that helps you quickly find low competition keywords for your website.  In particular, the tool is built for people doing SEO (search engine optimization) as opposed to people doing paid ads (Google Adwords PPC).  I'm sure there are some advertisers that use the tool for paid ad keyword research, but the tool was built for SEO keyword research.
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