Cold data to be archived in cube?

Hello,

I have a MP with 2 cubes. One cube has got data from 2011. Am on 7.3 BW

Now I need to archive the old data before 2016 April 1st. Query also need to see only new data.

Can I consider partitioning the current cube or SPO on existing cubes? Technically possible? If so, what's the impact on MP?

Or should i create another cube for data before april 2016 and load new data to the current cube?

Which one is better with faster and accurate results? Kindly suggest