How can I Upgrade MySQL version
Current MySQL Version: 5.5.40
Target MySQL Version: MySQL 5.7
OS: CentOS release 6.5 (Final)
Probably the quickest way is to dump your older DB version with mysqldump and restore it into 5.7 fresh DB.
How smooth the process goes, depends on how many dropped features in 5.7 you're using in 5.5.
In my case, the only feature, that was dropped in 5.7 was timestamp default '0000-00-00 00:00:00' The fix for that was to run sed on dump file and replace ''0000-00-00 00:00:00' with CURRENT_TIMESTAMP
sed -i.bu 's/'\''0000-00-00 00:00:00'\''/CURRENT_TIMESTAMP/g' fixed_dumo.sql
Afterthat, the fixed_dump.sql was imported into fresh 5.7 DB and it worked smoothly. I hope this helps.