Thanks Ingo for your response. I have a follow up question as well.
Design Studio is the chosen tool of choice for the dashboards and SAP MII itself is installed on an instance of SAP HANA database. HANA here is used purely as a data base and not for any modeling purpose. Can we still create Design Studio dashboards directly on top of data lying in SAP MII tables(hana tables)? I assume if HANA is purely used as a database, it would not be possible to create views etc(license restrictions).
How about creating a webservice from MII and then createing a universe via IDT by consuming this webservice? Design Studio dashboards can be created on top of universe. what do you think about this approach?