The importance of species in the taxonomic hierarchy is as follows:The taxonomic order and the idea of species both aid in characterising the various organisms. This enables the combination of organisms that share a great deal in common. Biology has a discipline called taxonomy that makes it easier to categorise living things. The taxonomic order and the idea of species both aid in characterising the various organisms. This enables the combination of organisms that share a great deal in common. Biology has a discipline called taxonomy that makes it easier to categorise living things.