Disk I/O is usually the slowest component of a system. SQL Server stores all data, including system and user data, in 8KB pages that are read from disk into memory for processing. There are different types of pages like data pages, index pages, and log pages. Query performance can be improved by reducing the number of disk I/O operations through methods like using the right join types, defining helpful indexes, and avoiding full table scans. Various dynamic management views and wait stats can help identify query optimization opportunities by monitoring I/O and index usage.