The scanning tunneling microscope has been an extremely successful experimental
tool because of its atomic scale spatial resolution. In recent years this has been
combined with the use of low temperatures, culminating in microvolt energy
resolution. However the time resolution of typical STM experiments is limited to about
one millisecond for spectroscopy on a single atom. In this talk we will discuss the use
of inelastic tunneling spectroscopy with low-temperature STM for the study of spins, a
technique coined spin-excitation spectroscopy. With this approach it is possible to
measure the energy eigenstates of the quantum spin Hamiltonian that describes spins
on surfaces with very high precision. We will briefly discuss its application to the
measurement of the Zeeman energy and to magneto-crystalline anisotropy. We will
focus on a new way of achieving fast time resolution based on an all-electrical pump
probe spectroscopy. In this approach, a strong voltage pulse applied between tip and
sample drives a spin out of thermal equilibrium (the pump pulse) [Nature Physics 6,
340 (2010)]. A short time later (typically a few nanoseconds) a smaller voltage pulse
(the probe pulse) is applied which probes the state of the system. I will demonstrate
this technique for the measurement of the spin relaxation time of individual magnetic
atoms [Science 329, 1628 (2010)] and chains of atoms on a surface.