The Taxonomy serves for a main reason:
To bring order into the chaos.

It´s intended not only to store words, but to bring them into context with each other by:
- trying to put them into hierachical classifications (parent-child dependecies): Germany <-> Bavaria <-> Munich or Geomatics <-> GIS Applications <-> ArcGIS
- giving them descriptions: especially usefull for those inevitable abbreviations:
GIS -> Geographic Information System
- giving them synonyms: Annual Congress -> AC
- adding term relations: Referencing terms of the same kind, so not parent-child, but more like sister terms, depending on the context.

At the moment you can achieve this by using the "edit term" tab on a term page or by using the Taxonomy Manager.
Feel free to experiment a little on this.
In case of questions, do not hesitate to ask for more guidance.

Just try to start with sorting and classifying the keywords you used in your profile. Cause you should be the best person to judge how to classify your stuff.