ISO stands for International Standardization Organization, an organization that creates measurement standards. However, in regard to photography and videography, ISO refers to your camera's sensitivity to light. Setting the ISO to a specific speed will tell the camera how much or how little light it should aim to capture in the sensor. Therefore, ISO does not have a relationship to the shutter (like aperture and shutter speed), it is an internal setting.
A lower ISO speed such as 100 makes the camera less sensitive to light and is ideal for bright environments such as a sunny day. By making the camera "less sensitive" to light, a lower ISO speed essentially allows the camera to take in more information or pixels. With that said, a high ISO such as 1600 is ideal for dark environments since it increases light sensitivity, but the caveat is that less pixels are captured. Therefore, the higher the ISO, the grainier the image becomes as shown in the chart above. Sticking to a lower ISO will achieve a higher quality image.
This camera has an expansive ISO range from 50-102400, and you can adjust the ISO by pressing fn > ISO and adjust using the dial. As a general rule of thumb, to capture a quality image, keep the ISO set at 800 or less (ISO 800 for dark environments and generally ISO 200-400 for bright environments).
What happens if I'm shooting at night and I can't get a proper exposure that has an ISO 800 or less?