This character is a Math Symbol and is commonly used, that is, in no specific script. The character is also known as backward difference, gradient and del.
The glyph is not a composition. Its width in East Asian texts is determined by its context. It can be displayed wide or narrow. In bidirectional text it acts as Other Neutral. When changing direction it is not mirrored. If its East Asian Width is “narrow”, U+2207 forms a word with similar characters, which prevents a line break inside it. Otherwise it allows line breaks around it, except in some numeric contexts. The glyph can be confused with 8 other glyphs.
The CLDR project calls this character “nabla” for use in screen reading software. It assigns these additional labels, e.g. for search in emoji pickers: triangle.
The Wikipedia has the following information about this codepoint:
The nabla is a triangular symbol resembling an inverted Greek delta: or ∇. The name comes, by reason of the symbol's shape, from the Hellenistic Greek word νάβλα for a Phoenician harp, and was suggested by the encyclopedist William Robertson Smith in an 1870 letter to Peter Guthrie Tait.
The nabla symbol is available in standard HTML as ∇ and in LaTeX as
abla. In Unicode, it is the character at code point U+2207, or 8711 in decimal notation, in the Mathematical Operators block.