An organizational structure used to classify a broad range of concepts into categories and establish the relationships between these categories.
Formally, a taxonomy comprises a hierarchy and a schema, though the term taxonomy often refers to the hierarchy alone. The purpose of developing a taxonomy with respect to product information is to organize product data, discover new relationships through the development process, and to improve the search for product information within a given system. An organizational structure alone, the taxonomy attains value through its implementation, i.e. the classification of items to categories and the filling of values in the schema.