What do the 'Sales Pipeline' and 'Filtered Total' mean?

Sales Pipeline reflects the total value amount for all deals in an active stage (an active stage is any stage that has a probability % that is not either 0% or 100%. This could also be known as won and lost deals, depending on if that has been customized in your account.).

Filtered Pipeline reflects the value for all deals that fit with the filter you've applied. 

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