Concept-oriented model of data (COM) has been recently defined syntactically by means of the concept-oriented query language (COQL). In this paper we propose a formal embodiment of this model, called nested partially ordered sets (nested posets), and demonstrate how it is connected with its syntactic counterpart. Nested poset is a novel formal construct that can be viewed either as a nested set with partial order relation established on its elements or as a conventional poset where elements can themselves be posets. An element of a nested poset is defined as a couple consisting of one identity tuple and one entity tuple. We formally define main operations on nested posets and demonstrate their usefulness in solving typical data management and analysis tasks such as logic navigation, constraint propagation, inference and multidimensional analysis.