Google AdWords has launched a new feature which provides you with detailed competitive auction information. You can now see how your bid stacks up against your competition.

With the Auction insights report, you can compare your performance with other advertisers who compete in the same set of auctions as you do. You can see how often your ads rank higher than other advertisers’ ads on the search results page, and how often your ads appear compared to theirs based on your estimated possible impressions. This information can help you make strategic decisions about bids, budgets, and keyword choices by showing you where you are succeeding and where you may be missing opportunities for improved performance.

The Auction insights report provides data at the keyword-level, and provides five different statistics: impression share, average position, overlap rate, position above rate, and top of page percent:

Google is rolling this out now. Are you seeing this in your account yet?