Thanks Colin, Will try it today by taking the backup and we are using 5.8 ControlPoint only.
Step1 is correct: Drop Database and run exportBI_database_creation.sql [This will create the Database, Tables and Views etc. ]
Step2: Run the powershell "Initial_export.ps1" by passing the parameters such as dbServer storagePath [sqlUser] [sqlPwd]
Step3: Verify the Data populated and filled the 2 views called ControlPoint.Documents and ControlPoint.Policies.
Step4: Either manual run SP Exec [dbo].[RefreshPublishedDocuments] or schedule Job and it can refresh the Data from meta Store every day.