Google has combined the Keyword Tool and the Traffic Estimator into one tool called the Keyword Planner.
"Behind every successful AdWords campaign are well planned out keywords and ad groups," says AdWords product manager Deepti Bhatnagar. "In the past, you may have relied on tools like the Keyword Tool and Traffic Estimator to identify new keywords and ad groups, get traffic estimates, and choose competitive bids and budgets. Over time however, we’ve heard from you that having two tools for search campaign building was cumbersome."
"We’re constantly working to simplify the process of building campaigns, and today we’re happy to announce the launch of a new tool, Keyword Planner, which combines the functionality of the Keyword Tool and Traffic Estimator into a smooth, integrated workflow," says Bhatnagar. "You can use Keyword Planner to find new keyword and ad group ideas, get performance estimates for them to find the bid and budget that are right for you, and then add them to your campaigns."
The tool also comes with some new features, including the ability to find new keyword and ad group ideas by "multiplying" keywords (combining two or more lists to generate new keywords. It will now let you target individual cities and regions within a country.
It also lets you add keyword and group ideas to a "plan," which Google describes as a shopping cart of ideas that you can add to a current or new campaign.
For more on plans and on the tool in general, read this.
The Keyword Tool and Traffic Estimator will be sunsetting in about sixty days.