Trace file is not in a understandable format, but to make it easier to understand and readable Oracle has provided a utility TKPROF.
Syntaxt to run TKPROF
TKPROF [options]
Note: Its mandatory to set environment before running TKPROF.
TKPROF Example
TKPROF PerfIssue.trc PerfIssue.prf
--
--Another way with options
--
TKPROF PerfIssue.trc PerfIssue.prf explain=apps/apps table=sys.plan_table
Read this article to know how to generate Trace
Reference: http://docs.oracle.com/