Reports and Dashboards are now together called "Analytics"!
We have now grouped Reports and Dashboards modules under a new heading called Analytics. This is similar to the Customers module, which houses both Contacts and Accounts. So the next time when you are looking to access a report or a dashboard, you need to click the Analytics tab from the top band and then select the respective module.
In addition, we have now introduced the ability to rename Analytics and Customers module to something more meaningful for your business. You could head to Setup -> Modules -> Rename Modules to rename them.
PS: There will be no change in the functionality of the feature.