Views enable you to set up one or more variations on which key figures and characteristics appear in the report, and the type of chart that appears for the report.
Once you assign a report to a work center, you can select the view which appears in the end user reports list. You create a view by choosing key figures and characteristics for columns and rows in a table, then selecting a chart type to best represent that data. When you create a view you can also define conditions and exceptions for key figures that alter how your data is presented based on rules and thresholds.
Conditions: Create a condition to limit the data shown to that which fits the defined rules.
Exceptions: Set a threshold beyond which the data display is altered to display an alert indicator.
Pooja Bhalla explains the concept in the embedded video tutorial below: