So other than encoding and storage, why else might taking notes be important? They’re made and used in all manner of contexts, and not every note has the same purpose.
Consider the personal diary or journal. It involves a type of note-taking that doesn’t fit neatly into either the encoding or storage functions, unless we wish to remember something from the day or to review our entries later. Rather, the diary is a tool of reflection - it can help us make emotional or rational sense of things that have happened, and provide an area where we can articulate our feelings and thoughts privately.
Perhaps after making an entry into our diary we come to a decision about a choice we’re facing. The act of noting our problem becomes a way of better understanding it and deciding what we’re going to do next. This is another function of note-taking that can fit alongside encoding and storage.
For learning, this act of reflection - working out our relationship with the information we’re presented with - can be just as important as the information itself.