A very common error in the English language is misusing advise and advice, while the words are related they do have a different meaning. Keeping these two words straight will ensure that your communications are professional and convey the correct meaning.
Advice is a noun that means a suggestion on a course of action. This is something we do nearly every day in some capacity whether at work or with friends and family. This spelling of the word actually denotes the information or suggestion that is given.

In usage advice would look like this, "That was a great piece of advice that Joe gave us in the meeting."

Advise is a verb that's meaning is to actually give advice. So while advice is the information given, the act of giving it is to advise. This is one of the words that commonly gets misinterpreted by spell check programs like Microsoft Word, making it even easier to be guided to using the incorrect usage (as I'm typing this every instance of advise is underlined and Word is suggesting I change it to advice).

In usage, advising would look like this: "Advising us to cut costs was the main outcome of the meeting with consultants." So in this case the cost cutting was the advice that was being advised by the consultants.