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It's not quite what you're asking for, but SQL Server Tuning Advisor will recommend indices. Hell, SSMS recommends a missing index if you display the execution plan for a query. Oracle has a tuning wizard too (though I've no experience with that one).

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In my limited experience, the Oracle version is a lot more difficult to use than SSTA. (I think) it requires setting up a sampling of a particular query or table, through Grid, and then analysing the results offline.

I love the "missing index" feature of the explain plan in SSMS also - and missed it heavily when I moved to a shop that does Oracle.

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