Your products can be either "Active" or "Disabled".
The active status is for products that are currently being used/sold/purchased. Active products will appear in all your intelligence reports.
The disabled status is for products that are not being purchased or sold at a particular point of time. It could also be for discontinued products. You can exclude 'disabled' products from your reports. Note that disabling your product will not unpublish it from any of your connected integration (e.g. Shopify).
To change the status of a product, go to the Inventory section and select the product.
Toggle the product status between active and disabled by clicking on Change.