I have a dedicated Windows 2008 Server with 32GB RAM & Intel Xeon E3-1230 v2 processor and SQL Server 2008 (Standard Edition).
There's a heavy data import & cleaning process i.e importing data from CSV files which runs daily and whole process takes about 8-10 hours.
My problem is that ASP.NET MVC website which is hosted on this same sever gets slow for small periods during that import process. Most of the time, it runs fine, but in between, the site will become unresponsive and slow. The import process doesn't touch the database which the site uses.
Ankit quick solution for your problem is to have 2 VM on your dedicated hosting server. One one VM you can host your website and another VM you can host you database and import process.
From performance perspective it is case by case as your problem is very generic and broad so community can't help but tip still you can follow.
For your website create separate application pool.
You can assign min and max CPU and memory utilization for your processes like import, IIS etc based on your need.
Check clock speed;whether it is matching between your processor and virtual memory. It doesn't matter how much virtual memory you have you need your RAM in sync with you processor cores.
As SQL Server Standard version supports max 4 cores of processors. Check how much cores you have in your dedicated server.
Will update if find any other tip for your.