For me there are two things that you can do,
Partition the table horizontally based on the date column
Use the concept of pre-aggregation.
Pre-aggregation:
In preagg you would have a "logs" table, "logs_temp" table, a "logs_summary" table and a "logs_archive" table. The structure of logs and logs_temp table is identical. The flow of application would be in this way, all logs are logged in the logs table, then every hour a cron job runs that does the following things:
a. Copy the data from the logs table to "logs_temp" table and empty the logs table. This can be done using the Shadow Table trick.
b. Aggregate the logs for that particular hour from the logs_temp table
c. Save the aggregated results in the summary table
d. Copy the records from the logs_temp table to the logs_archive table and then empty the logs_temp table.
This way results are pre-aggregated in the summary table.
Whenever you wish to select the result, you would select it from the summary table.
This way the selects are very fast, because the number of records are far less as the data has been pre-aggregated per hour. You could even increase the threshold from an hour to a day. It all depends on your needs.
Now the inserts would be fast too, because the amount of data is not much in the logs table as it holds the data only for the last hour, so index regeneration on inserts would take very less time as compared to very large data-set hence making the inserts fast.
You can read more about Shadow Table trick here
I employed the pre-aggregation method in a news website built on wordpress. I had to develop a plugin for the news website that would show recently popular (popular during the last 3 days) news items, and there are like 100K hits per day, and this pre-aggregation thing has really helped us a lot. The query time came down from more than 2 secs to under a second. I intend on making the plugin publically available soon.