service/datcol_timeout is a SAP Parameter attribute which is used to control Maximum allowed runtime for data collector information. This is available within R/3 SAP systems depending on the version and release level.
Below is the standard documentation available and a few details of the attributes values .
Timeout for the call of a data collector when the start service is
generating a snapshot. If the data collector does not exit itself before
the timeout is reached, the start service terminates it.
See SAP Parameter Documentation for full SAP documentation for this profile parameter.