LEVEL 100

Taxonomy is the practice and science of classification.In addition, the word is also used as a count noun: a taxonomy, or taxonomic scheme, is a particular classification. First think go to Central Administration and Application Management, then Manage Service Applications

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Let’s Create a Managed Metadata Service for our Taxonomy

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Fill the required information for the Service Application

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SEE:
Managed metadata service application overview (SharePoint Server 2010)
Create, update, publish, or delete a managed metadata service application (SharePoint Server 2010)
 
Now Let’s click our Service Application, in this case TAXONOMY TEST

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You will get all configurations to go and you can now create a TREE LABEL System in order to use in your application image