The Cenozoic Era is the last major division in time, beginning 65.5 million years ago and continuing until today.The Cenozoic Era is also referred to as the Age of Mammals, as mammals began to rule the earth following the extinction of dinosaurs in the Mesozoic Era. The Cenozoic Era is divided into three periods, including the Paleogene, Neogene, and Quaternary periods. We are currently in the Quaternary Period.