Asker,

The report information you get is not up to the minute, it is aggregated over 
time, but usually is about a day old. Processing has been done ahead of time to 
make this data available for you. You can make a single request to retrieve all 
of your keywords' data at once. 

To get a single piece of data for a single keyword is also a request.

On the web(the API is a web service after all) each request takes set up and 
teardown time. If you have 1000 keywords, retrieving them all individually 
takes 1000 times the setup and teardown time as retrieving them all at once.

Think of it like moving to a new house. The single API call is like using a 
small pickup truck with a 6 foot bed and packing everything yourself. You have 
to drive back and forth many times, but you probably know where everything is 
at all times. The report is like using a 26' moving truck and having help when 
you pack. You might be able to get almost everything you need in a single trip 
saving hours of driving time, but it all gets there! The drawback being you 
have to unpack everything to find your hair drier.

As for using the report being subject to inconsistency, you are right but that 
is the nature of the beast. If you are making all your changes using the API, 
you should be able to update your local copy as you change things. If you also 
have human users changing things in the AdWords UI, then you are going to have 
inconsistency no matter what.

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