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Database SQL speed

I have a query that pulls from several tables.  There are about 750,000 records in one table, joined to another that contains about 7000 records, with a couple other joins.

My query makes a computation that looks at all records (adds, then averages based on a where clause, etc.)  This is taking approx 1.5 minutes.

Is it reasonable for me to expect that with proper design, indexing, SQL, etc... this execution time could be reduced to a few seconds?  Or, with that many records, is it inevitable that it will take 60+ seconds to execute?

The DB is housed in SQL Server, GoDaddy is the host.
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lludden
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Great, thanks!