Records management taxonomy is the classification of data within an organization identifying what data is being generated by each department and where the data is stored. For instance, one department may create sales invoices in a Microsoft Word format. The marketing department may create sales brochures in PDF format and another department may have a different format.

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Records Management specialists often may go inside a company as consultants and create a taxonomy report for the company. The taxonomy report is in the form of a spreadsheet showing each department, business process, function, types of data generated, retention policy for each type of material, records classification name for each item and many other fields.