The local data that is returned is a 12 month average of all search queries in the United States using the Google Search Engine and affiliated Google search properties. Using the sidebar on the left, marketers are easily able to specify the keyword matching type (Broad, Exact, Phrase), change the category, and refine their results to contain specific terms.
Keyword Overview looks at the entered term on its own and addresses expected searches per month, the difficulty of competing against Page 1 results for the same term, a rough estimate of organic click-through opportunities (versus paid ads and non-organic positions on the search engine results page), and the perceived priority that the user should assign to optimization for this term, where the higher the score, the higher the demand and a lowered level of competition.
As for the history of the company, as I explained, I created Long Tail Pro back in 2011.  At the time, I was creating tons of niche sites and was doing alot of keyword research and content creation.  I was trying to figure out what types of keywords would rank quickly in the search engines, specifically Google, and I was frustrated with the other keyword research tools (in particular Market Samurai) out there.