ODS performance

We have ODS object in BW 3.5 tha has a growth of approx 1000000 records per year. It has started giving the performance issue related to slow running queries.

ODS has

Key fields = 5 characteristics.

Data fields = 45 Characteristics and 27 Key Figures.

What are the options to improve the run time ?

I understand building index on active data table may help.. please confirm.

I also know that moving all the data to cube will improve it. Please let me know if there are advantages , disadvanttags associate with it. Thanks for your interest in this topic.