partitioning - Do I need to create a ntfs partition for Windows running in a virtual machine?

I plan to install 14.04 on my laptop,and then install Windows 8.1 inside a virtual machine (not yet decide which software for virtual machine).

When I install 14.04, do I need to create some ntfs partitions for Windows (one ntfs partition for installing Windows, and another ntfs partition for storing personal data files which can be shared between Windows and Ubuntu)?

Thanks!