They’ll show you information like how many external links the site has, the number of Facebook and Google+ shares, estimated visits per month, and its page authority. All of this is valuable intel that can give you insight into where your page could potentially rank against them, without needing to do more research with a separate tool or on another page.
In fact, Google Suggest is the best way to find good long tail keywords that people use to find information on Google. Google admits that while Google Autocomplete (another name for the Google Suggest feature) was not designed specifically for marketing, it can deliver meaningful insights and help stay on top of trends. There are also many clever ways to use Google Autocomplete that can help you with SEO.
But it’s still very useful for getting search volume data (provided your account still shows this), which is helpful when choosing which of the many keywords you’ve found to focus on (although you should take these estimates with a pinch of salt, they are still useful in indicating the relative search volumes of different keywords, even if the absolute estimates are a little off).
As for the history of the company, as I explained, I created Long Tail Pro back in 2011. At the time, I was creating tons of niche sites and was doing alot of keyword research and content creation. I was trying to figure out what types of keywords would rank quickly in the search engines, specifically Google, and I was frustrated with the other keyword research tools (in particular Market Samurai) out there.