Table C-3 Party and Party Subtype Entities
Customer has PROFILES and they have sub types of Individual and Business (termed as Organization). In addition Customer Contains PROSPECT also plus other related reference entities such as Customer Financial and Non Financial relationship (Accounts, Affiliation, Group, Occasion, Preference, Demography). Some of the "Named" Demography attributes are kept in CUSTOMER entity.
A party is an umbrella relationship across customer, vendor, employee and similar entities. For a given natural key, a Party ID ties up all these disparate entities and allows to leverage each other while maintaining their individual signatures. Remember PARTY as an after thought which enables you to tie together the disparate entities with a common ID based on same Natural key. By definition all these disparate entities are created at a different time frame with diverse OLTP systems but all of them would carry same natural key if the same party is defined in the system as a customer, an employee and a vendor as well.
By default, only two types of PARTY are available in Oracle Communications Data Model: Individual and ORGANIZATION. This can be extended but consider extending and also updating the various tables associated with a PARTY ROLE such as CUSTOMER if they are impacted.
The same party can play several party roles with respect to the CSP: A person could be customer, employee and dealer of the CSP at the same time. It would have the same party key. But for a given interaction or event, only one party role is typically used (unless he sells to himself a product offering, for example). Standard Party Roles like CUSTOMER, VENDOR, DEALER, EMPLOYEE, SALES CHANNEL REPRESENTATIVE are pre-defined in Oracle Communications Data Model with their sub-types.