How will the data be stored in database

I tried connecting the app and server by giving the URL as mentioned by you. But once again I get the same error. "Error : client Protocol Exception".

One more question.
Suppose if the data is getting is submitted from collect app, how will the data be stored in database? Should we create any tables in the database installed(postgreSQL or MySQL) based on the data we provided in the data collection form in app?

See https://github.com/opendatakit/opendatakit/wiki/Aggregate-Database-Structure for the structure. Follow the installer's instructions on creating the database and Aggregate will create the necessary tables.