What Marketing Center's competitor tracking does is enable a business owner to monitor their rivals' keyword strategies on a monthly basis. With these analytics, they can analyze where competitors are focusing efforts and make informed adjustments to their own campaigns. This could look like investing more where your competitors are also investing to compete and win for the jobs they're going after. Or, equally, it could look like "zigging where they are zagging" and investing in keywords where there is less competition (and they can likely win jobs for lower spending). The reality is everyone's situation is going to be a little different.

Additionally, I'd highlight that this data allows clients to see historical search volumes and traffic levels for the keywords their competitors are targeting. This gives them a better understanding of how saturated the market is for those terms and what the historical demand has been before investing their own efforts.
The data also reveals any gaps or missed opportunities in their competitors' strategies. This insight allows clients to capitalize on those openings and gain a competitive edge. By analyzing multiple competitors a business owner can get a much more clear sense of the landscape for competition for leads and awareness in their area.