To be convinced of the effectiveness of the product, you have to watch the video. The major benefit you are going to derive from the product is the multiple seed keywords it delivers. Unlike other similar products that give only single seed keyword, you would get multiple seed keyword with this program and you can get this at a time. Because you can process more than one seed at one time, it saves you a lot of time and resources. This is a huge plus to this product.
Joost developed his own keyword research tool to come up with keywords as well! Yoast Suggests uses the Google Suggest functionality you know from searching in Google. It finds the keyword expansions Google gives and then requests more of them. So if you type ‘example‘, it’ll also give you the expansions for ‘example a…’ till ‘example z…’ etc. Just go on and try it and fill out some of your potential keywords. It’s a great way to quickly find more long tail keywords you can focus on.

Once I have a list of phrases, rankings, and volumes from these tools, I'll look to internal tools (maybe Excel, Access, or another database) to organize, classify, and forecast opportunity. This is where I'll estimate a competitor's traffic based on volume & position CTR, set goals for a target position, and estimate traffic based off that position's CTR and keyword volume.
The team at E2M is taking this opportunity to analyze other significant (and free to use/try) keyword research tools out there. We are asking ourselves what data and logic should ideally go into keyword research, how this logic can be programmatically applied to the creation of tools, and what the best ways are to consolidate and use their output. Here’s a quick look at 25 other keyword research tools, some well-known and some you’d do well to know. These are not alternatives to the AdWords Keyword Tool on their own, but each of them performs some function of the AdWords tool in its own unique way, and all of them aid and abet your keyword research quite well.
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.

I just downloaded a free version of LTP 3.1.0 and I cannot figure out why I can’t see the table headers of ‘Page Authority’, ‘Domain Authority’, ‘Juice Links’, etc next to ‘Keyword Competitiveness’. Normally, I should be able to see these but instead I see new categories like ‘Trust Flow’, ‘Citation Flow’, ‘Domain CF’, ‘Domain TF’ and so on. I thought I can still use the regular version of LTP for 10 day trial so I am not sure why I see different categories. Is it b/c I am on version 3.1.0 instead of 3.0? Let me know if you have any idea.Thanks!

Keyword Discovery is a paid subscription service that offers marketers the ability to see keyword data across multiple search engines. They maintain one of the largest databases of searches, (nearly 38 billion) which are compiled from over 50 different search engines. The search data shown is a record of the number of times the exact keyword or phrase has been searched over the last 12 months across all 50+ search engines. You would assume that the search volumes would be much larger than any other tool because of Keyword Discovery’s access to data from over 50 search engines, but the fact that the keyword matching option is set to exact, greatly reduces the total volume. Unlike Google’s tools, Keyword Discovery does not collect or show data relating to paid search, such as Suggested Bid, Cost per Click, and Competition. Data is collected daily, but updated monthly. Although you must pay the subscription to have access to all the features, Keyword Discovery does provide a free alternative.
6. Filter by KC and sort your list. Like some of the other filters you can input a minimum and maximum amount in the KC column and sort by that. Some people prefer to sort ascendingly to do their analysis from the easiest to the toughest keywords. For a new site try to find keywords with KC equal or under 20 or 30. Despite the super helpful KC score, you should further analyze your best looking keywords individually to be sure they are good to go. So click on them to check your top-10 competitor sites and pages.
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?

In a nutshell, Long Tail Pro helps you quickly find keywords in bulk based on a seed keyword that you input.  In addition to returning hundreds of related keywords, the tool also shows search volume (monthly search volume), advertiser bid, number of words, rank value, and my favorite Keyword Competitiveness (helps you judge the competition and keyword difficulty).