Which SAP HANA trace should be activated to analyze performance issues where third-party software cannot be installed?

Activating the kernel profiler trace in SAP HANA is the most effective method for analyzing performance issues in scenarios where third-party software is not an option. The kernel profiler provides a comprehensive overview of the system's performance by detailing CPU usage, memory consumption, and the execution of various internal operations. It identifies bottlenecks at a granular level, allowing for a deep dive into the performance metrics that are critical for diagnosing issues affecting application performance.

In contrast, while other traces such as the SQL Trace and Optimizer Trace offer valuable insights, they focus primarily on SQL execution specifics and the query optimization process, respectively. The Connection Trace is primarily concerned with monitoring the connections and session activity but does not provide the holistic performance overview necessary for performance issue diagnosis in the absence of third-party tools. Thus, the kernel profiler is the most suitable choice for a thorough performance investigation when third-party software installations aren't feasible.