Yes, Its fairly straight forward process to isolate the tenant specific data of one customer from the shared DB to another. Cello Provides Data Backup Utility which would help you take the backup of the Application Data and restore in the destination Data Source.

 CelloSaaS Backup utility will simply restore the data of a Tenant in a Separate DB, but it will not delete the date from the Source DB, Hence the Application Administrators requested to manage the deletion and pointing the new Tenant to the New Database Setup.