Overview:
The walk-in pipeline widget tells us how much pipeline was present at Day 0 of the quarter and coverage tells you how much pipeline is required to achieve the booking targets.
You can access the widgets by going to Marketing Performance → Pipeline Analytics (Group)→ Walk-In Pipeline by Quarter of Close
Walk-in Pipeline by Quarter of Close:

In this widget, you can see how much of the walk-in pipeline you had at the beginning of the quarter converted to booking within the same quarter.
You can see multiple options in the drop-down to see coverage:
Walk-In Pipeline Coverage (Target): This is calculated as “Walk in Pipeline”/Target Booking for the quarter
For eg: If your Walk-in Pipeline for Q1 is $300k and you have a Target (booking) for Q1 as $130k, your Walk-In Coverage is 2.30 (300k/130k)
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Similarly, you can calculate Walk-Pipeline Coverage (Target) for volume where you take in (Number of opportunities on day 0 of the quarter/Number of Target Closed wons in the quarter)
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You can also calculate the Walk-In Coverage (Actual) as well which shows up as a trend line on the bar-chart
To calculate the Walk-In Coverage (Actual) ,
Walk-In Pipeline (Value)/Actual Booking Value (closed in that quarter)
Similarly, you can calculate Walk-In Coverage (Actual) for volume, where you take in (Number of Opportunities on Day 0 of the quarter/Number of actual Closed Wons in the Quarter).
Summary:
You use target booking on a quarterly level to calculate Walk-In Coverage (Target) and you use actual booking in that quarter to calculate Walk-In Coverage (Actual).