what is the value for setting a hostname in installation of oracle enterprise linux r6u5 should have?

I am installing oracle linux r6u5 for my personal use in vmware workstation. While going through installatio i came to a point where I have to enter hostname, format specified init is "localhost.localdomain". What value should I give there? should that be a live domain name over internet or it can be any in the format specified in it "localhost.localdomain" or IP address of host OS(Windows 8 where VmWare is installed on).

Please help me with this I am installing Linux for first time.