The level of inter-application integration that you describe is possible with Microsoft Office and other Windows applications. A low end implementation that does not require specialist IT skills is mail merge: the data is in an Excel spreadsheet (the world's widest used flat file database!) and the mail merge engine is Word.
The downside is that OLE was a Microsoft technology, thus suffering from multiple implementations (OLE, COM, ActiveX) and confusing APIs. OpenDoc had parents (Apple, Novell) who abandoned the baby; OLE had a single dysfunctional parent.
OpenDoc was never designed as a consumer technology, although Apple made a good attempt at a friendly interface. The big partners intended OpenDoc for use in corporate environments where multiple platforms were in use. For Apple, pre-press publishing would have been another big market. In the end, OpenDoc became irrelevant owing to the Windows 95/Office steam roller and the slow decline of Apple and Novell in big companies.