Hi Priyanka,
we are using two database instances, one for main integration parts (containing IS, TN, Archive, MWS etc.) and one for the Optimize data.
Each instance has its own schema on the Optimize DB.
Create the new optimize schema on the new database and after moving the data to the new schema (your DBA might assist you here)
you can drop the optimize parts from the old db/schema.
Remember to change your optimize configuration via central configuration in MWS and to redeploy/restart your environments before dropping the old schema.
Regards,
Holger
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