Each academic year colleges and universities are requested to fill out the Common Data Set (CDS) for publishers of college guide books (e. g., the College Board, Peterson's, and U.S. News & World Report) and other external agencies. The primary purpose of the CDS initiative is to improve the accuracy of information provided to prospective students by requiring each institution to answer a standard set of questions and to abide by standard definitions of terms. By doing so will facilitate comparison information between institutions nationally and reduce the burden on institutional data providers.

Information and data in the CDS include general information, enrollment and persistence, admissions (first-time, first-year freshmen and transfer), academic offering and policies, student life, annual expenses, financial aid, instructional faculty, class size, and degrees conferred.