Basically, the MBO defines a schema that you can use to store your data. There are objects (like Artist, Recording or Work) and predicates (like manifestationOf or hasRecording) that decribe the relationship between those objects. In the picture below you find a rough overview about the main concepts of the MBO. The oval shapes are the objects, the arrows the predicates connecting the objects. Please note, that in the future more concepts will be added.
1) Storing your data
As you will probably have to handle a lot of data, you will have to store it somehow. Nowadays this is often achieved by using different data formats, like excel sheets, plain text files, word documents etc. The drawback of this approach is that you cannot easily exchange the data between all your different storages. If you would store all the data in a database using the mbo-format, you would have one place to store all the data. You would ommit redundancies, error prone manual copying and inconsistent data. With small converter-apps you can import and export your data from or to any fancy format you might need. Such a converter-app can be easily written either by yourself (if you have some programming skills) or by any programmer. The advantages are, that you don't need to buy or licence a big, complex software and that the small apps are much more easily written and maintained.
2) Exchanging your data
You will probably need to integrate data that you get from your business partners to your system. And you will probably also need to provide your business partners with data about e.g. your artists and their music. This is usually very complex, since you have to convert the data into other formats, structures etc. When all partners use the mbo as a exchange format, you can skip conversion steps for different partners. The main advantage from this approach in comparison to using a standard-format is that everyone can continue to use their current IT-structure. All they need to do is to convert the exchange data to the mbo format, which can be achieved by creating some converter apps. This will simplify the exchange of data significantly.
3) Combine the data with other existing data
Due to the structure of semantic data, it is easy to combine your data with other data that exists in the semantic web. With this linked data you can integrate more information into your system without the need for manually adding them. If you find resources in the web that also use semantic data, you can combine them with your data. This can be data that is strongly related to your business data or it might be unrelated data. E.g., you could store the tour dates of your bands and combine them with databases that provide information about cities and places. Thereby you can extract interesting information about the cities your band play, without the need to manually check them for each venue they play.