H ow to analyze Time Model Statistic

Hello Experts,

This is the Time Model Statistics section of AWR report: H ow to analyze below Time Model Statistic

Statistic Name	Time (s)	% of DB Time
sql execute elapsed time	686,804.62	97.89
DB CPU	14,579.90	2.08
parse time elapsed	8,554.54	1.22
hard parse elapsed time	6,611.62	0.94
PL/SQL execution elapsed time	3,941.89	0.56
hard parse (sharing criteria) elapsed time	2,406.10	0.34
connection management call elapsed time	324.65	0.05
PL/SQL compilation elapsed time	34.66	0.00
hard parse (bind mismatch) elapsed time	25.44	0.00
repeated bind elapsed time	21.93	0.00
sequence load elapsed time	1.49	0.00
failed parse elapsed time	0.51	0.00
DB time	701,577.24
background elapsed time	5,921.55
background cpu time	117.49