The basis for this feature request comes from this thread.

In cases where data to be monitored has an often-changing identifier (e.g. IP address) which would currently be tracked with thousands of distinct items, it would be useful to create a general item that could have its name changed. Alternatively, one could merge / associate two series in a graph to pair an item who's value is an identifier, and an item who's value is something to graph. This feature request is very open-ended.