Hi Siddarth,
You will have two options:
1) Import the DSO into HANA using Import BW object wizard which generates a HANA model and you can use this model for your further modelling,
2) If BW is running on the same HANA instance and you have proper authorization, you can use the Active Table in DSO in your reporting procedure .
Regarding building HANA model, it is technically possible but not supported by SAP as a better approach it is better to use generated model in HANA.
Regards,
Krishna Tangudu