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Probably the "best" method is to first partition the data, hopefully on some sort of date column. After some time has past, all data in that partition can be archived. Create a new tablespace just for that partition and move that partition into that tablespace. Make the tablespace READ ONLY, and use Oracle's Transportable Tablespace feature to copy that partition off the database. You can then copy to tape or DVD or where ever. Once done, make the tablespace READ WRITE and drop the partition and the tablespace that you created. The data is now removed from your database. Should you need the data, simply plug in the tablespace you have copied to DVD and it is ready to go! A thorough testing of this procedure is in order.
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