Microsoft SharePoint 2016 released a feature for managing large lists in SharePoint 2016. This feature automatically indexes the columns of the list based on the following:
- Filters in the view.
- Number of items in the lists.
SharePoint will automatically create these indices on the lists as this is the default setting for the list.
This can be enabled\disabled from the List Settings, then Advanced Settings and select Automatic Index Management
There is a new timer job “Large List Column Index Management” that analyses the views in the lists and create these dynamic indices. The maximum limit of indices is still 20.
This feature is also released in SharePoint online and available in Office 365 SharePoint.