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Business Analyst Server 10.3.1 with Esri Business Analyst 2016 USA Data Update shows poor performance while running reports, for example, the Demographic and Income Profile report. These reports are taking around two minutes to run.
The issue was related to the base layer being used to define which state a point fell in. At version 10.5 with 2016 data, a more precise layer is used and the issue has been resolved.