What is the Common Data Set ? The Common Data Set (CDS) initiative is a collaborative effort among data providers in the higher education community and publishers as represented by the College Board, Peterson's, and U.S. News & World Report. This goal is attained by the development of clear, standard data items and definitions in order to determine a specific cohort relevant to each item. Data items and definitions used by the U.S. Department of Education in its higher education surveys often serve as a guide in the continued development of the CDS.