Chad Callihan deals with non-existent data:
Handling NULL values can be a challenge and may lead to unexpected query results when mixed in with non-NULL values. Thankfully, there are a few SQL Server functions devoted to handling NULL values. Let’s look at two of them. The first, NULLIF, will help you to return a NULL value. The second, ISNULL, will help you with an alternative to a NULL value if you need another value in its place.
For the longest time, I strongly preferred COALESCE() over ISNULL() because of how it can handle multiple scenarios, as well as it being ANSI SQL syntax. But it turns out that, if you do only have two things to compare, ISNULL() is a little bit faster.