A super-easy way to think of ISO is it is the digital 'replacement' for film speed (aka: ASA). The exposure triangle has not changed...aperture, shutter speed, film speed(ISO). As mentioned above, ISO can be changed on a shot by shot basis. Also, the newer cameras are capable of unbelievably high ISO speeds relative to the fastest ASA film speeds of years past.
In my film days, I 'standardized' which film I used, and thereby automatically knew what was in the camera. Shooting exclusively slides, when I moved from Kodachrome 64 to Ektachrome 100, I thought I had made a giant leap. Some years later, Ektachrome 200 was the cats meow, and that became my 'standard' film for everything until I put the camera down in 1992. Today, shooting at ISO 6400 is mind-boggling, but I get good results with very little noise on my Canon 5D3.