To get started with the Free Keyword Tool, just enter a keyword or search term into the relevant field. If you want to conduct competitive intelligence research into your competitors' keyword data, you can also enter the URL of a specific webpage to view keyword data for that page. You can also enter your industry and country to see even more accurate results; it's not unusual for the cost-per-click and other metrics to differ widely from one country to another, even for advertisers bidding on the same keywords in the same industry. 
1 – I’ve found a niche with low competition and good CPC . but the thing is the while doing competition analysis. I observed that most of the sites that are in the top 10 serps ranking are small ecommerce site selling their own product or sites like niche specific classified ad site with low and thin content. What are your suggestions ? Should I go for such keywords ?
Using the good ol' free Google Keyword Planner is great. But there is an alternate universe of Long Tail keyword phrases that live in Google's other database--namely, their "Autocomplete database." That's the database that is accessed when you're typing queries into the Google search box (notice that list of suggested keywords that pop up as you type?)
Use the Google Adwords Keyword Planner to find new and related keywords, but ignore the search volume data! The search volume data in the planner is really only useful for keywords that you’re actually spending money to advertise on. Otherwise, these volumes are not reliable. While not really helpful to decide which keyword is most used by your potential audience, Google Adwords Keyword Planner makes a useful tool in coming up with ideas for potential keywords!
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).
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Mr. Dean I wanted to drop in and personally thank you for everything you do for us rookies in the online marketing field. I have learned so much from your lessons/guides/articles/videos you name it! I also been using Raven Tools and find it pretty helpful as well in regards to keyword research, what say you? Look forward to all your future posts! Also, it says a lot about you that you actually take the time and respond to the comments that users leave you in your articles, don’t really see that too often these days! All the best!
Long Tail Pro is a keyword research tool that helps you quickly find low competition keywords for your website.  In particular, the tool is built for people doing SEO (search engine optimization) as opposed to people doing paid ads (Google Adwords PPC).  I'm sure there are some advertisers that use the tool for paid ad keyword research, but the tool was built for SEO keyword research.
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