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I thank everyone for your feedback and wonderful comments. We will run Statspack, Analyze the table as well as use Tkprof.
Tamil, what is 10046 event 6 with level 12/8. Please reduce the terminology for me.
By the way, I have done some light DBA tasks not the heavy stuff. I am more of an Oracle BI DBA primarily implementing Oracle and third party software that interact with Oracle Database.

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Level 1 is equivalent to set sql_trace=true.
Level 4 is for getting the bind variables and their values in the trace file.
Level 8 is for getting wait events (db_file_sequential_read etc).
Level 12 is the combined setting of level 4 and level 8.

Tamil