Setting up a variable for an array of tags in EngageOne Converse

In Converse there is a possibility to name a variable to hold an array of tags for quick replies. What does this entail and how can you use this functionality?
The use of this is to dynamically provide a list of quick replies. This can be done by making a REST call to an endpoint that returns the data in the correct format, or make a REST call that does not have the correct format and run a set variable action to reformat it into a list of tags.
UPDATED:  September 19, 2018