JG its Great!. It worked.

In Set Datasource Location dialog box, I selected the Table that needs to be changed in the 'Current Data Source' section and I selected the new table that needed to be replaced in the the "Replace with" section. Then by clicking the update button, I was taken to the "Map Fields" screen where I mapped the fields from old table to new table. Then renamed the table name to the new one. Thats it!

Thanks a Lot for your help. I really really Appreciate your efforts in helping me out. This saved me lot of time...