what is the use of labels in BigQuery

A label is a key-value pair that helps you organize your Google Cloud instances. You can attach a label to each resource, then filter the resources based on their labels. Information about labels is forwarded to the billing system, so you can break down your billing charges by label.

Common uses of labels

We do not recommend creating large numbers of unique labels, such as for timestamps or individual values for every API call. Here are some common use cases for labels:

Team or cost center labels: Add labels based on team or cost center to distinguish instances owned by different teams (for example, team:research and team:analytics). You can use this type of label for cost accounting or budgeting.

Component labels: For example, component:redis, component:frontend, component:ingest, and component:dashboard.

Environment or stage labels: For example, environment:production and environment:test.

State labels: For example, state:active, state:readytodelete, and state:archive.

Virtual machine labels: A label can be attached to a virtual machine. Virtual machine tags that you defined in the past will appear as a label without a value.

This information was sourced from : https://cloud.google.com/resource-manager/docs/creating-managing-labels

The user katmagee is correct in co-relating this to Tags which are the key value pairs used for labeling in  AWS . Hope this helps

Gaurav did a great job of answering this!

To add to this, labels are something that can be placed on resources to help with the management of them.

Aside from allowing a breakdown of costs, you could also use them on your VM’s to apply specific firewall rules, or enable your load balancers to distribute requests to machines with X label. Hope this helps provide some additional scope for their purpose