I would like to know how we can effectively check if set of points is within a particular polygon or not. It will be very time consuming we perform looping for each of the points to check for each of the polygons.
I'm not sure what this has to do with HP technologies, but you'd have much better luck asking this on a generic algorithms or math forum.
So I would like to know if there is any functions or logic availbale in vertica to implement the mentioned logic effectively.
Then may I suggest you ask in the vertica forums?