This mouthful of a word is actually the plural form of cognoscente (pronounced kahg-neh-SEN-tee OR kahn-yeh-SHEN-tee), but the former is more commonly used than the latter, and they both sound the same. This Italian term tends to be used interchangeably with connoisseur, its French counterpart with the same Latin origins, but it can have slightly different meaning. In its plural form it designates a group of people having vast knowledge and a refined understanding of a specific subject, especially related to the arts: performing, fine or otherwise. Most commonly, you will see the word associated with fashion.
Example: The color cognoscenti, otherwise known as Color Marketing Group, annually forecasts and influences multiple global industries in the ways of color.