Last week, Michael reported how Google Trends is now tracking not only searches but also compares traffic between websites. However, this is only the start of what you can use Google Trends for.
Local PPC Advertising - marketers can find out which regions are searching for a broad keyword phrase. It can drill down from region (Countries) to sub-region (State) to City. For national companies looking to focus their local advertising efforts, Google Trends is an essential PPC advertising tool.
Penetrating Foreign Markets - Google Trends tracks search trends for the global marketplace. US-based companies that are looking to expand into foreign markets can search and find what countries / sub-regions are looking for their products and services.
Additionally, Google Trends advises what language your target audience speaks and popular news stories related to that keyword phrase / website.