Customize the data that LTP is going to fetch with pre-filters like “Suggested Bid” (or Cost per Click [CPC], i.e. the amount of money an advertiser is willing to pay for a click on their AdWords ad that is targeting that specific keyword), “Local Search Volume” (average number of monthly searches for a specific keyword), “Advertiser Competition” (the amount of advertisers competing for a specific keyword) and “Number (of) Words” (very important when you’re trying to find long-tail keywords).
Google's AdWords Keyword Planner tool is another common starting point for SEO keyword research. It not only suggests keywords and provides estimated search volume, but also predicts the cost of running paid campaigns for these terms. To determine volume for a particular keyword, be sure to set the Match Type to [Exact] and look under Local Monthly Searches. Remember that these represent total searches. Depending on your ranking and click-through rate, the actual number of visitors you achieve for these keywords will usually be much lower.
You can use this tool while searching for ad group ideas or keywords. Keyword planner acts like a workshop that you can use to expand existing network search network campaigns or build new ones. The tool can allow you to search for AdWords tool ideas or keywords, view the performance of a list of keywords, retrieve historic statistics, and develop a new list of keywords by multiplying many keywords lists together. A free keyword planner, AdWords tool can also assist the user in selecting a list of competitive budgets and bids that you can include in your campaigns. You can utilize keyword planner in laying the foundation of a successful online campaign whether you are a highly experienced pro or new to online. All you need is a Google AdWords account and you will be ready to sign in and get on the move.
The primary difference is that Long Tail Pro is a big time saver over MS. With Long Tail Pro you are able to enter in multiple seed keywords at once (rather than just 1 with MS). So, instead of entering in 1 seed keyword, waiting five minutes, then going back and entering in one more; you can enter 5 seed keywords (for example), hit generate and then see all the keyword ideas at once!
If you're a regular blogger, these are probably the topics you blog about most frequently. Or perhaps they're the topics that come up the most in sales conversations. Put yourself in the shoes of your buyer personas -- what types of topics would your target audience search that you'd want your business to get found for? If you were a company like HubSpot, for example -- selling marketing software (which happens to have some awesome SEO tools ... but I digress ;-) -- you might have general topic buckets like "inbound marketing," "blogging," "email marketing," "lead generation," "SEO," "social media," "marketing analytics," and "marketing automation."
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It would be great if you can provide comparative analysis of this tool with Google Keyword Planner. Since you’re using this tool so you can provide best comparison. One differentiation which I understood is that this tool works for yahoo and bing as well whereas Google keyword planner works only for Google but Google being a dominating search engine, gives the highest returns, so only this reason may not be enough to buy it.