Which method can be used to aggregate data for improved reporting performance?

Aggregating data into a third custom object is a strategic approach to enhance reporting performance. This method allows for the consolidation of related information into a single, more manageable structure, leading to increased efficiency in generating reports. By creating a custom object that summarizes data from multiple sources or standard objects, you can streamline queries and reduce the complexity of data retrieval processes.

This aggregation can also help in improving the performance of reports by ensuring that only the necessary data is being accessed and processed, reducing the load on the database and minimizing response times. It allows for more targeted reporting, which can facilitate quicker insights and analyses, particularly in environments with large datasets where performance might be impacted by the volume of records being processed.

In contrast, while external storage solutions can offload certain data, they do not inherently aggregate it for reporting purposes. Renaming records does not affect data structure or reporting performance, and replacing existing data could lead to loss of valuable information rather than providing a means to improve reporting. Thus, aggregating data into a third custom object serves as the most effective method for enhancing reporting capabilities.