WordStream is a new SAAS offering that speeds up the process of organizing kewords into relevant ad groups. It will import keywords from your server logs or from a text or excel file and then help you segment them into tightly themed ad groups.
I used it first to import my keyword data from my server logs (you have to download your logs first).  The software apparently uploads your log files to their servers, then analyzes them. So it took a couple minutes for this process to finish. But in only a couple minutes I had all the keywords people used to find my site, with usage data, loaded.  You can then see how many visitors each keyword or phrase brought in, with a graphical representation that looks like the textbook keyword distritbution curve, with a perfect long tail. You can now add additional keywords if you like from your other keyword research tools.
The beauty of the software is that now you can very efficiently segment the keywords into tightly themed groups with just a few clicks. You can just click on a keyword or phrase, then a list of all phrases containing that keyword or phrase will pop up, and then there is a list on the right that will allow you to segment further by choosing other keywords. Additionally, you can search for keyphrases containing certain terms and get a list of all of those. Once you have segmented a group down to something you would like to create and ad group for, with just a couple clicks you can create an ad group in AdWords with those keywords (you need to link an Adwords account first).  Once you get the hang of it, is is far faster than messing with Excel and then manually creating ad groups.
There are also some handy workflow tools that allow you to see what things you are working on need attention. You can quickly see which add groups have too many keywords, need an associated landing pae, etc. When you are juggling multiple accounts and tons of ad groups, this can be really helpful.
For agencies or individuals who do a lot of keyword organization and ad group creation, this looks like it could not only save a lot of time, but could also really help you to create highly targetted ad groups that could improve your Quality Score.
They currently have a free trial that so you can play with the software before buying.  The pricing ranges from $300/month for small business, $500 for agency level, and $1,000/mo for enterprise level.
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