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What is the best approach to access data by different components?

I am currently working on an application which has a challenge.

I have a centralized database with collection of data. I have different components which needs to access those data.

Now i want to choose the best approach (or) model to achieve this.

I have two ideas which has its own Pros & Cons.

First one is,

Hitting the centralized database to collect and process all the data which will avoid data redundancy but increase the complexity in terms of server load and performance.

The other one is,

Having a separate schema (or) table for each component and allowing them to get in touch with the corresponding schema to access required data. It will have the data redundancy but good in terms of performance.

I need experts' advise to choose the best approach. Also, let me know if any other approach is best for these kind of problems.

So, Kindly suggest me.

For server load and better performance you should keep in mind these things- 1)H/W config. 2)N/W setup 3)Optimized source code Check with these things, if you have no problem with the specified things , you can go with the first approach. For optimization of Mysql database you can refer the following link - http://thesystemadministrator.net/cpanel/mysql-optimization-to-improve-server-performance-and-reduce-server-load

I won't suggest second approach because creating copy of same schema is worthless. You will need to write some extra Procedures to data update.

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