Tags Vs Multi-Select

Hi All

What would you say is the best way to describe the difference between Tags Vs Multi-Select? Tags appear to be something that can be applied across multiple/all solutions but a Multi-Select field is somewhat localised. Would that be accurate?

So what would be the best way (a use case) for each of these? I have projects and I would like to "label" their type by using either field type, but I am not totally sure which one to choose? Both can be used as "labels" but I am not sure which is fit for purpose.

My guess is that because the "labels" only apply to Projects (in my use case) then Multi-Select is the better fit as opposed to tags. I gather tags should (only?) be used for global labelling???

Any advice would be appreciated.

Thanks.

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