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I've used similar approaches before, but often inevitably found that there were enough differences between Dev and Prod to make the approach a little unstable. Do you typically have different data sources (with slightly different schemas) and or connections that are different between prod and dev? If so, do you ever have issues with the copied extracts not being compatible (e.g. because a developer added a new calculated field that wasn't in the prod extract)?
Thanks. Your reply zeroes in on the fact of breaks caused by versions not being in sync. Our approach only works with copies in sync. True new dev would be a new, unique version on DEV only.