Remove the currently installed version of Axxon Next (see the section titled Removal).
Install the new version of Axxon Next in the same folder where the older (removed) version had been installed. You can place your databases in any folder you want. When installing the new version, select the Use the current database radio button (for the log and object trajectory databases) in the Select database window.
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If you do not need to retain existing databases, select the Overwrite the current database radio button