OpenTelemetry (OTel) semantic conventions aim to standardize the labeling of telemetry data to ensure consistency and facilitate the correlation of signals across diverse systems, helping engineers avoid the confusion of inconsistent labeling. This standardization allows for easier data management and integration, enabling developers to create new experiences based on reliable, standardized data formats. OTel has emerged as a leader in this field due to its collaborative development under the Cloud Native Computing Foundation, with contributions from major companies, ensuring its extensive and portable nature. The conventions cover key:value pairs for metrics, logs, and traces, each with specific requirements levels, and provide guidance on naming and structuring to enhance debugging and maintainability. While the specification is still evolving, it is recommended to adopt these practices early to benefit from improved data correlation and analysis. Axiom, developed alongside OTel specifications, optimizes the ingestion, storage, and querying of telemetry data, offering compatibility with OTel SDKs to ease implementation and enhance cost-effectiveness.