How to create Managed Metadata column in SharePoint 2010

In this article we are going to see how to create Managed Metadata column in a SharePoint 2010 list.

Managed metadata is a hierarchical collection of centrally managed terms that you can define, and then use as attributes for items in Microsoft SharePoint Server 2010. A column is a location in a list in which to store information about a SharePoint Server 2010 item. When you define a column, you provide a name for the column, specify the column's type, and provide additional information that depends on the column type. SharePoint Server 2010 introduces a new column type named managed metadata. When you create a managed metadata column, you specify the term set from which the column's value