Tags and labels refer to the same thing. They are used to identify or group customers or other resources.

A tag is a descriptive text you can add to an entity for identification. Tags make it easy to group things.

Other definitions

A tag is a piece of information that describes the data or content that it is assigned to. Tags are non-hierarchical keywords used for Internet bookmarks, digital images, videos, files and so on. A tag doesn't carry any information or semantics itself.

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A label contains information about a product on its container, packaging, or the product itself. It also has warnings in it. Labeling is also an important part of the brand of the product and the company. It helps the product stand out in the market, and identifies it as a part of a particular brand.

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