MySQL cloning aggregated database from an existing database

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We have a MySQL database based on InnoDB. We are looking to build an Analytics system for this data. We are thinking to create a cloned database that denormalizes the data to prevent join and uses MyIsam for faster querying. This second database will also facilitate avoiding extra load on the main database to which the data will be written. Apart from this, we are also creating some extra tables that will store aggregated numbers to avoid recalculation.

I am wondering how can I sync these tables once every day to keep them updated. It looks similar to Master-slave config of MySQL which uses binary log. But in our case, the second database is not an exact slave. Are there any open-source reliable tools or any other ideas which I can use to write an 'update mechanism'?

Thanks in advance.

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