Tags will help you organize your programs while channels will assist in gathering data for reporting purposes.
Check out Understanding Tags for more information.
Admin Permissions Required
To create a new tag type:
Go to the Admin section.
Click New and select New Tag Type.
Enter a name for the Tag Type.
Enter the desired Value for the Tag Type. Click Add Another to enter additional values.
Select which Program type(s) this tag applies to.
Decide whether or not to make this tag required for all the program types listed.
If you want to make a similar tag required for some program types but optional for others, you’ll need to set up two separate tags, each applying to different program types with one with “Required” selected, and the other with “Required” not selected.