You can easily manage and update existing tags from the Manage Tag section in Text Analysis.
To edit a tag:
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Locate the required tag from the tag list.
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Click the three-dot menu beside the tag.
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Select Edit tag.

This will open the Edit Tag modal, where you can:
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Update the tag name
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Modify the tag description
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Add or edit keywords associated with the tag

Once the changes are made, click Save to update the tag.