Tags are a way for you to label your contacts. Tagging allows you to add multiple labels to your contacts and they will move with your contacts as you move them through your sales cycle and folders.
When you create a new setlist, you may want to add a tag or tags to that list when you import it into SmartCalls Dialer to help you track those contacts once you delete a saved search.
You can also add tags to the contacts individually from the contact record, through the Contacts tab / Tags option (from the gear wheel), or from a dial session. Manage Tags will allow you to fully customize your tags with colors and symbols, as well as add new ones or change existing ones.