A profile contains the elements that make up your Tealium iQ implementation. This include which Tags you want to load, the conditions that determine when those Tags load (load rules), what data points are passed to your Tags (data sources), and any manipulations of those data points that occur before they're sent (extensions). When you include Tealium's code in your site's source, you specify which profile you want to have that site load. A profile library contains all the same elements as a regular profile. However, a profile library is never meant to be referenced by a site directly. Instead, your other profiles pull in the elements contained in your profile library. So, if you have several profiles that use the same elements (Tags, data sources, load rules, etc.), you can include these elements in one profile library, and set up your regular profiles to pull in those elements by linking them to the library. This provides you with a single location (the library) to modify these elements if you need, and have those changes automatically propagate to your profiles. Now there are a few caveats to be aware of, such as the need to publish your profiles if you update libraries they're linked to. You can find more information on profile libraries, see the article on profile inheritance (https://community.tealiumiq.com/t5/Developers/Profile-Inheritance/m-p/1329)
Let us know if you have more questions.
Thanks, Seth
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