Here's an example of how our school district manages and names collections, for what it's worth: (30 schools)

As for naming based on software, we opted for the naming scheme above for the following reasons.

1) All application package based collections (full software installs) start with "App - " so they can easily be ordered or identified. Then "All, or Test, or Temp, or Config, or Reprort, or whatever the use of the collection might be, would have a standard named prefix.

2) After consideration, we came to the conclusion that the subset of users that need Acrobat Pro X are going to be the exact same users who are going to need Acrobat Pro XI when it comes out, and same for everything else. (Ex: Photoshop CS5, Photoshop CS6 - we do not run different versions of the same software around the district, everyone upgrades at the same time, then we build the package - this may not work so nicely if your environment) - The packages all have proper version numbers and naming, but we didnt see a reason to keep renaming or re-creating collections for each version of a product, so as you see in the picture, the collections are all in the format:

APP - LOCATION - MANUFACTURER - PRODUCT

It seems to be serving us well so far.

FURTHER INFO THAT MAY NOT BE OF USE:

For software, we think of collections in two ways, district-wide licensing, and school specific licensing.

Ex, in the picture: Our Adobe Acrobat Pro license is a district-wide 60 licenses (example, I don't have the real numbers handy), the package does not contain separate keys for each site, so it can go on all district computers, it is a district-wide package, and the collections are managed as such.

Now imagine that School A bought 5 licenses of Photoshop, on one key, and School-B bought a site license for Photoshop for all site machines on a different key. Each having a site-specific key inside the installer package. - that's where the school specific groups come in. 'Core' groups are all machines at a site, so full-site-licensed software gets advertised to the Core groups. ('App - School-B Core' for Photoshop for example, or 'App - District Core' for something like Paint.Net, which is core for all machines.)

So probably none of that was very useful if you only have one purchasing institution or site, but I thought it relevant due to the nature of SCCM and multi-sites.