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Exam Ref 70-331: Core Solutions of Microsoft SharePoint Server 2013 by Troy Lanphier

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Objective 3.4: Create and configure a Managed Metadata Service (MMS) application

The Managed Metadata Service (MMS) within a SharePoint farm provides a way to define taxonomical structures that can be carried out through the entire farm. These structures include term sets, which can be used for assigning metadata to lists/documents and controlling navigation, and content type hubs, which can be used to centralize and standardize the deployment of specific content types within your enterprise.

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