It may depend on your use case.
In our environment most snapshots (patching and backups excluded) require some sort of ticket or service request - in order to standardize the naming, created a workflow/wizard in Orchestrator. Most snapshots now include the date (in YYYYMMDD format) along with the request number - in the naming convention. So naming looks something like: "20170227 - HEAT#123456". Makes things easier in reporting tools/scripts to know when (and most of the time why) the snapshot was taken.
It depend how you are taking snapshot, is it from backup software or Manually , If it is creating by backup then it will take name auto by manually put vm name and date
If you are planning to take manual snapshots , go with Date and what Action performing Example # winpatch_02/28/2017
For each backup software, it will use their default snapshot namess like below
Avamar-1488267965... Created by Avamar workorder