Hi @Rajumuddana
1. From an architectural perspective, if your client digital ecosystem permits, I would say that introducing a cache server, as a layer in between your front-end and the 3rd party holding original data, would definitely help. This is will be used to store original data, alter it if you need to enhance/amend with information (like taxonomies, filters, properties etc) that will later serve implement desired functionalities like filtering, sorting or pagination and serve it to your front-end layer. In this way you could address the latency between front-end and client.
2. One other approach might be to bring data closer to your app, meaning to pre-import it from 3rd party into AEM and use GraphQL to consume it from AEM afterwards. But for this approach you might need to think of few things when saving dynamic data into AEM. I have raised these concerns in one of my recent responses to another thread: https://experienceleaguecommunities.adobe.com/t5/adobe-experience-manager/acceptable-scheduler-frequ...
3. In addition, you can make use of local cache, like local/session storage, to improve website state.