Let me preference my question by saying I'm VERY new to AEM (Assets) and I'm not a developer. I'm currently in the process of setting up/updating a custom metadata schema (registering namespace in JCR, mapping namespace to field in the Metadata Schema Console and adding options/values to the newly created field). This process is pretty straightforward and I'm having an easy time grasping/understanding the functionality. My question is, I'm not entirely sure what the Tagging Console allows you to do/manage vs the Metadata Schema Console (and how they relate)? Thanks for the feedback!
Tags are a quick and easy method of classifying content within a website. Tags may be thought of as keywords or labels that can be attached to a page, an asset, or other content to enable searches to find that content and related content. In AEM, we manage all these tags in http://localhost:6530/aem/tags. See  for more details.