The AdWords tool that show click, impression and cost estimates, Bid Simulator, now includes conversion predictions.

For those who don’t know what the Bid Simulator does, it displays estimates for both 1-per-click and many-per-click conversions you may be receiving with different bids.  Just like with other estimated data, the time period that displays these estimates are from a seven day period.

Adwords Bid Simulator Convrsion Estimates

At this point, it seems that the conversion estimates are, due to high volume keywords, very limited.   Brand keywords are the only conversion estimates that will be seen on many accounts.  Because of the sparse conversion data, it is difficult to make any worthwhile predictions about the future performance of your keywords.  if the bids are already maxed out, then the conversion estimates for brand keywords may actually be useful, as seen above.

The conversion data might be a helpful signal in determining if you should test different bids for the accounts that are already using high converting non-brand keywords.