This is partly a description of the concept of the business ontology. Bob Muglia has been discussing this as the central problem to be solved in the data platform space for at least a decade. You could view the battle between the various vendors vying for a role in enterprise AI as really a battle over who owns the business ontology or semantic layer.

This article does a good job explaining https://metadataweekly.substack.com/p/ontologies-context-gra...