What is a label?
A label is a way for you to track different groups of properties or people and differentiate between them. You can organize and filter your tracked opportunities using labels, and use them to identify properties for which you want to create mailing labels.
To see a list of your existing labels, at the top of the Track page, click Manage Labels. The Manage Labels menu appears, which displays a breakdown of your existing labels, including how many opportunities to which you've assigned each label.