Is this a public or private cloud? I would ask your cloud provider if other companies are experiencing this sluggishness at the same time. Usually disk I/O is the issue and/or lack of RAM or CPU. You will most likely find the source is due to hardware insufficiencies but you must find isolate the cause. If that does not resolve the issue it would be best to bring in a SQL guru and perform SQL monitoring which will lead to SQL performance tuning.
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