In the analog world you trim out gains such that the analog VU meters on various gear in the signal chain all read 0VU with same voltage level input.
The idea is get all your metering in various different devices calibrated to the same reference level.
In the digital world, the meters are typically not VU but instead 0dbFs is max and over 0 is to be avoided (although these days a lot of D/A converters actually handle overs gracefully)
Calibration between digital and analog is fairly new-ish.
The exact level dbFs in the digital world to set as your "zero VU" is not 100% agreed on.
https://en.wikipedia.org/wiki/Alignment_level
http://www.digido.com/articles-and-demos12/13-bob-katz/22-level-practices-part-1.html (section III)