Explanation:
Extract, load, and transform (ELT) differs from ETL solely in where the transformation takes place. In the ELT pipeline, the transformation occurs in the target data store. Instead of using a separate transformation engine, the processing capabilities of the target data store are used to transform data (...) In practice, the TARGET data store is a DATA WAREHOUSE using either a Hadoop cluster (using Hive or Spark) or a SQL dedicated pools on Azure Synapse Analytics.
https://docs.microsoft.com/en-us/azure/architecture/data-guide/relational-data/etl = DW for the Transform.