Making a "copy" of a schema.

Part of a project I am working on is making available a static snapshot of the database at a given time inteval - for example, the past four (4) weeks of data.

Due to the processing involved, we simply can't query the data and specify a date range. One of our developers had the idea of creating a new schema (I'm not even sure if that is the correct term) for each copy, with a consistent naming convention. Then the appropriate users could connect through our front end to whichever "copy" they wanted.

So, something like:

1. Stored Procedure runs at 2:30AM on a Sunday to create a schema called XYZ0312003 for the copy ending on date 03/15/2003.
2. We put logic into our front end that allows users to connect to whichever copy.

Does this sound like a feasible situation? Barring size constraints (which are still unknown at this point), does this sound ok? The old "copies" wuld only allow READ access, not data updating or inserting.

Thanks in advance.

--
Mike Loll