The answer to how an MDM works is quite simple. Think of it as an application (sometimes it is) installed onto devices that give remote access to control applications, monitor data breaches, secure devices and a host of other features.
MDM monitoring is where a lot of the benefits show their capabilities. Having a monitoring ability that allows you to know precisely when and where malware was detected helps stop the spread, quarantine the phone and protect your corporate networks. The main difference between COPE and BYOD is the level of security that you can implement and monitor that can be installed.
The ability to monitor which apps are being used through MDM software helps with implementing safer security systems and more encompassing asset management. Assets are often seen as the physical device; however, you also need to consider the software assets and mobile apps assets (Often in the form of licensing).