Since Last Bid Edit is a condition in Automation Rules, which brings even more flexibility to the automation and allows you to implement advanced bid optimization strategies and avoid tough manual calculations we, humans, never have time for. The idea is to analyze the performance of a keyword from the last day when the bid was edited until the day when the rule runs (excluding certain days if necessary).

1. It is a new dynamic approach.
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Now you can increase or decrease bids based on the statistics gathered from the moment you've last edited the bid. In this scenario, each keyword follows its own bid update schedule, depending on how fast it acquires enough data to make changes.
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2. You can prevent unnecessary bid changes.
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Our traditional approach was to check the bid every X amount of time and decide whether it requires any changes based on its current state. But what if some keywords need more time than others to accumulate enough traffic? With the new condition, the bids are changed when we are 100% sure that the time has come.

3. This is the opportunity to automatically analyze the impact of the bid change and react accordingly.
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To decide on the bid update, you might need to analyze not just a certain "days-counting" date range, for example, the previous 14 days, but the whole period from the last bid update until the time when the rule runs. If the keywords were edited on different days (especially if you edit them manually), traditional date ranges would not work because you won't know which bid has "caused" the performance you're evaluating in a rule: the current bid or the one that was before.
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Bonus: for ROAS based optimization models, you can exclude the number of days needed to evaluate the performance of the keywords:
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To open the Custom date range setup dialog, scroll down the date range drop-down list in Conditions and click Custom. Click the right icon in the Start From field and select Last bid edit day.

We suggest creating a pair of the Change bid action rules with the Since last bid edit condition. The first rule would verify that the keyword performs well enough and increase the bid, and another one would decrease the bid of the keywords with poor-performing results.
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Each rule in your pair should have a condition that:
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​∙ Evaluates if a keyword has gathered enough statistics to evaluate its performance. For example, Spend (since last bid edit) > 500 $ or Installs (since last bid edit) > 100.
​∙ Evaluates the performance of a keyword to decide if any changes are required.
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In the example below, the pair of rules analyses ROAS D7 since the last bid edit day, excluding 7 days (full ROAS D7 cohort is analyzed).
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​Rule A

​Rule B
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You can also add another pair of rules for such range: if ROAS D7 is in the range 10 < ROAS D7 < 20 and add a condition for, for example, ROAS D3, that would allow you to decide on a bid increase or decrease.

There's also an option to upgrade your existing rules set up to decrease the bid. You can prevent bids from unnecessary decreasing by adding a condition verifying that you have enough statistics to say that the keyword isn't performing well.
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In the example below, we decrease bids for keywords that are not bringing enough revenue, and only when we know that from the last bid change, the keyword had enough spend to confirm this.
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If you'd like to learn what period is taken into analysis for the particular keyword, go to Logs in the Automation section and download a CSV report:
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Check the Last bid edit column in the export file; here, you will find a date when the bid was changed for the last time:
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