Using the transform feature for summarizing APM indexes

I have elasticsearch version 7.17.1 and our applications are integrated with APM server to send metrics. The problem that we have is it generates heavy indexes, and we want to have old data as well.
I thought maybe I can use transform feature and aggregate and summarize old data.
But I don't know, based on what and how.
Has anyone done it so far ? I need some advice about it.

Thank you.

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