First of all, keyword can be one word or several words together (keyword phrase) and buyers use them to search for products on Amazon.
The Keyword Rank tool tracks how your product is ranking for that keyword, when entered into the Amazon search bar. This is going to tell you where your rankings are and how to improve them.
Know in every moment when your listings rank changes and use marketing tactics to improve them in Amazon search rankings and improve your Amazon-referred traffic.
With this tool, you are notified every time you need to take some action, without manually going through all data.
If your product is already at the top rankings for desired keyword, you can add new potential keywords to the tool and assess their viability.
As you can add any product on Amazon, you will be able to track competitors keywords also. Just add their product in Keyword Rank tool and keywords you think they use (check their product title and description).