[Observium] Compensating for hostname changes

My company wants to institute a naming convention change and as such, we'd need to update the hostnames in Observium to match.

I presume that Observium will not magically update anything if a hostname changes, and I'm sure others have gone through this activity in the past, so I'd like feedback on what's the best way to go about it and any caveats.

From my very limited perspective on the matter, I think all I need to do is change the hostnames in the hostname column of the devices table in conjunction with renaming the $observium/rrds/$hostname to match the change.

Yes? No? Maybe So?

Thanks in advance.