Let m be a positive integer and \(\mathcal {C}\) be a collection of closed subspaces in \(L^2(\mathbb {R})\) . Given the measurements \(\mathcal {F}_Y=\left\{ \left\{ y_k^1 \right\} _{k\in \mathbb {Z}},\ldots , \left\{ y_k^m \right\} _{k\in \mathbb {Z}} \right\} \subset \ell ^2(\mathbb {Z})\) of unknown functions \(\mathcal {F}=\left\{ f_1, \ldots ,f_m \right\} \subset L^2( \mathbb {R})\) , in this paper we study the problem of finding an optimal space S in \(\mathcal {C}\) that is “closest” to the measurements \(\mathcal {F}_Y\) of \(\mathcal {F}\) . Since the class of finitely generated shift-invariant spaces (FSISs) is popularly used for modelling signals, we assume \(\mathcal {C}\) consists of FSISs. We will be considering three cases. In the first case, \(\mathcal {C}\) consists of FSISs without any assumption on extra invariance. In the second case, we assume \(\mathcal {C}\) consists of extra invariant FSISs, and in the third case, we assume \(\mathcal {C}\) has translation-invariant FSISs. In all three cases, we prove the existence of an optimal space.