A Socius workspace is a virtual construct for organizing data for a company, organization, product, site or other real world object. It helps simplify permissions, as projects, documentation, accounts, etc. are all encapsulated within a workspace that can only be accessed to users assigned to that workspace.
First and foremost, Socius is a project management tool. In general, it is possible to use projects to organize your data. One use case for a separate workspace is if you work with a customer who has a substantial number of projects or enough account information that requires its own separate or unique categories. Workspaces make it easy to work with other organizations while keeping your company’s account information and documentation completely separate with no ability to mix.