There are lots of automated bidding and keyword management tools out there on the market. The two biggest ones are Marin software and Kenshoo at the enterprise level. What they provide is both keyword analysis and expansion but also algorithmically driven bidding based on your defined goals. You can set it to maximize sales, revenue, or profitability. It does this by basically experimenting with different bids to achieve various positions for the ad and then models out the expected profit at different bid levels.

Another thing these tools do is incorporate your own sales data automatically via tags or offline data merges and use that for getting accurate revenue and gross profit metrics.