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what is the difference between workspace and reports?
Can it be that the report is old and Workspace is new?
Can I ignore reports?
Reports & Analytics is a legacy UI whereas Analysis Workspace is a Modern UI with Visualizations and many other exciting features.
In a way it is a replacement to Ad Hoc Analysis for which end-of-life was announced recently. Below is an article which compares these tools:
Analysis Workspace compared to Ad Hoc Analysis