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What is the best directory to install Oracle on Linux box? /srv, /opt, /usr/local?

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If you want to use OFA then read this

OFA = Oracle Optimal Flexible Architecture standard. The standard is a set of configuration guidelines created to ensure well organized Oracle installations that are easier to maintain

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+1 for OFA. It makes life easier for those DBAs that come after you. – Rob Oct 2 '09 at 20:20
Exactly, you can endlesly discus all the recomendations in OFA. But the main reason to use OFA is that database servers are more easily maintained by other DBA's because we all use the same setup. – Robert Merkwürdigeliebe Oct 3 '09 at 18:07

Program or data?

For data, where-ever your RAID is mounted.

For program, /opt is OK.

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