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Recently Google AdWords released another feature to give you insight into your account’s performance. Its goal: to show you how some of your performance metrics compare to other advertisers Google has determined offer the same goods or services as you.

Per Google:

‘Analyze competition’ examines your account’s activity over the past two weeks and lists categories that represent the products or services you’re advertising. Categories are based on actual Google.com search terms and are matched up against your keywords, ad text, and landing page text. For each category associated with your account, you’ll see a bar graph, which shows your individual performance compared to the average performance of other advertisers in the same category.

What it means to you? We think it has great future potential, if it includes more insight into what might help you move up the chain. Useful questions it could help you answer in the future:

• Have you forgotten major keywords?
• Are you not bidding enough?
• What about the Quality Scores of the competition?
• Is the competition getting more or less business than you as a result of their PPC advertising?

CTR is a pet metric of ours, but beating your competitors’ CTR doesn’t necessarily have much impact on your bottom line. We say it’s business as usual, though high marks in the Analyze Competition feature may give you some nice bragging rights. For now, it’s a nice way to do a reality check on your impressions, clicks, CTR and Avg. Position (the four metrics available in the report).