Explanation:

Box 1: The CRM system
Data is extracted from the CRM system.
Box 2: The data warehouse
Data is loaded to the data warehouse.
Box 3: A standalone data analysis tool
The data transformation that takes place usually involves various operations, such as filtering, sorting, aggregating, joining data, cleaning data, deduplicating, and validating data.

Reference:
https://docs.microsoft.com/en-us/azure/architecture/data-guide/relational-data/etl