Taxonomy and Folksonomy can be used to describe two different ways to tag and organize information on the web.
Taxonomy is a methodical, scientific way of unambiguously classifying and organizing information. This is usually a clear cut definition of data and structure. The number of tags may be definite and predefined. The user searching for data may need to know which categories or subcategories to use as search parameters.
Folksonomy is a term used to describe the collective result of different people individually applying tags to the same online content.
Folksonomy takes advantage of the different perspectives of the different taggers which would give a more complete description than given by
any single user. The repetitive use of tags from different users can re-inforce tag definitions. Some disadvantages to folksonomy is that
it takes multiple users to make the process more effective and there is the possiblity of more search result than needed.
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