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Users can move their pointer over suggested terms to see descriptive text to help them make appropriate decisions.If synonyms have been specified for a term, users can enter those, and the correct term will be assigned.You must be a Site Collection Administrator to create or configure site columns.You must have the Manage Lists permission level to create columns for lists or libraries. If there is not an existing term set that you want to use, you can also create a new term set for a new Managed Metadata column.You must have the Manage Lists permission level to create columns for lists or libraries. Specify whether you want the term set to be Closed or Open.
The name of the term set and the term's position in the hierarchy can be indicated along with the term itself, which can help users select the appropriate term.
This makes a Managed Metadata column very different from a Choice column, which would have to be updated every time you wanted to change the list of choice values a user could select.
Managed Metadata columns also have several unique features and characteristics that help users select and apply terms to content, such as support for “type-ahead,” as well as support for disambiguation of terms, descriptions, synonyms, and multi-lingual values.
You can map a Managed Metadata column to a term set, or to an individual term that represents a subset of the term set (something that may be useful for hierarchical term sets).
If you map the column to a term set, then it will display all available terms under that term set.