Virtual Boxes have several advantages.
1]You can run an entire operating system inside the virtual environment.
2]You can use it to test your OS installation.
3]You can Test suspicious files in it before actually using that file and keep away virus infections.
4]You can use it as a disposable computer.
Now to begin this you will need the following.
1]Virtual Box[Download Link at bottom]
2]ISO Image of your Operating System.[Windows 7 ISO image download link at bottom.]
Now lets begin supposing that you have VB[Virtual Box] and the ISO.
1]Start with installing the VB.After installing you will get a screen as below.
2]Click on NEW.
3]Now Choose OS[Operating System] type and version.
4]Assign appropriate RAM[Recommended 512MB].
5]Select Create New Hard disk.Check Boot Hard Disk[Primary Master],Click Next.
6]Select Dynamically Expanding Storage OR Fixed-Size Storage.
Dynamically Expanding Storage:The size of the virtual hard disk will increase when it is filled up taking your actual hard disk space. Fixed-Size Storage:The size of thr virtual hard disk will be constant i.e the size you set.
7]Select the appropriate storage type and size and click next.
Now the main setup of the VB is Finished.
8]Click Start and your VB will load.
9]Select Media Type as CD/DVD,Media Source as Image File and select the path where you saved the windows ISO image file.Click next and your Windows Setup will Start.
10] Follow the Setup and when finished Start your VB and Use the new OS.
Download Links:
1]Virtual Box.
2]ISO Image Files.