Workspace is a high-level logical grouping of work among the teams. You can create different workspaces for each team in your organization. For example, a workspace for a customer team, sales team, product team, and so on. You can create different apps such as table app, document app, and plan events, create tasks, and start chat messages with your team in your team workspace board.

Different types of workspaces:

Account level workspace: It is managed by the administrator of your organization. For example, for a HR workspace all the information related to the company such as Organization charts, Holidays list are displayed here.
Team level workspace: It is a workspace which you can create depending on your requirement for your team.