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I am talking about the information already stored in my database which is running on my current ecommerce site?
If I can use my current database all my current customers and stored information can be transfered over???
The import/export functionality in Magento is called DataFlow. You can read more about how this works in this blog post. There is also a dedicated forum for DataFlow here where you can asked more technical questions about how to accomplish this migration. If you current site is an OSCommerce shopping cart you may want to check out the OSCommerce Migration tool through Magento Connect.