Both of the TNS Entries are already part of TNSName.ora file in BO Server.
My question is; Is there a way to have one connection for both of the server so system can dynamically switch over to failover server if the Primary Server goes down?
So you have an Oracle Datbase Server configured for Failover and want BusObjects to use the Failover Oracle Server?
Well, Failover (e.g. Oracle) should be transparent for an outside application (eg. BusObjects), so you should look into Oracle’s configuration of Failover, perhaps?