They're called indexed views in SQL Server - read these white papers for more background:

Basically, all you need to do is:

  • create a regular view
  • create a clustered index on that view

and you're done!

The tricky part is: the view has to satisfy quite a number of constraints and limitations - those are outlined in the white paper. If you do this - that's all there is. The view is being updated automatically, no maintenance needed.

Additional resources: