A system and method (a “utility”) is provided for improving the accuracy of a content matching analysis that identifies a composition of an item of protectable content of a user. The item of protectable content may include a portion of source code or object code, individual or bundled source code or object code files, binary code files, directory structures and/or trees, open source software projects or packages, and/or proprietary software applications or packages. The utility involves storing a number of items of comparison content on a storage structure, receiving an item of user content at a computer-based content exchange, and comparing the item of user content to the items of comparison content to determine, from among the items of comparison content, one or more potential matches that each include a matched portion that is similar to a portion of the item of user content. The utility further includes selecting a noise reduction technique from a number of noise reduction techniques available to the content exchange and applying the noise reduction technique to eliminate noise and/or false positives (e.g., one or more redundant matches and/or erroneously identified matches) from the potential matches.