Woocommerce change tag_id to name

You can use get_term() to get the full term objects which contain the name. If you do this in array_map() you can convert the IDs in the array to the name:

$lob = $values[data]->tag_ids;

$names = array_map( function( $term_id ) {
    $term = get_term( $term_id );

    return $term->name;
}, $lob );