Before going in to the elaboration of the topic, lets just define what the Taxonomy is all about.
A Taxonomy , or taxonomic scheme, is a particular classification of data, arranged in a hierarchal structure. Typically this is organized by supertype-subtype relationships, also called generalization-specialization relationships, or less formally, parent-child relationships .
Lets have an Example, i have site collection for my Finance Department. I have created document library for uploading or creating the documents there, but the problem is that it is very difficult to figure out which document belongs to the Finance–> Financial Reporting–>Payables, so it means that if i am contributing a documents in this regard so there should be metadata for this document library which not only maintains the hierarchical structure of the document at its own but also it can be followed in the site collection scope.
Here comes the Managed Metadata Service, in which you can define the Hierarchy of the terms, and then allow the document library to follow this Hierarchy.
Managing Metadata Service:
Go to Central Administration–> Manage service applications(Under Application Management Heading)
Check Managed Metadata Service is running, if yes then Click on the ‘Service Applications’ in the Ribbon above, then click on the ‘Administrator’. Add yourself in to the administrator, and give yourself as full control permission.
Now click on the Managed Metadata Service, In the Term Store Management Tool, on the Left side you find Managed Metadata Service, create a new Group named as Finance.
and create the Group Term Hierarchy as follows
Well now as i am writing this blog on the beta version of SharePoint 2010,
you have to manually activate that Feature through Stsadm -o activatefeature -id 73EF14B1-13A9-416b-A9B5-ECECA2B0604C -url http://yourwebapp –force,
you can find the feature id in the %14–>Templates–>Features–>TaxonomyFieldAdded–>Feature.xml. Open that file in the notepad and replace the id i have mention from your one.
Now create a Document Library as Receivable and create a column as Property with the Type Managed Metadata, Select the Term you want as follows
Now it is time to upload your document in that Library, after uploading the Document it will ask about the Metadata Information
So thats how you can manage the document in more efficient manner, personally i really like this feature, it really settles the mess created by uploading documents with mentioning its metadata.
Your suggestions and feedback highly appreciated.