Explaining Identity Acronyms: What is ISPM and why does it matter?

Identity and Access Management (IAM) acronyms are a bit like Hydra, the mythological monster - once people begin to understand one, two more appear. Recently, the trends around Identity Security have produced a couple new terms - Identity Threat Detection & Response (ITDR) and Identity Security Posture Management (ISPM).
While we can agree that there are too many acronyms and that Identity, Security, Posture, and Management feel like a random sampling of security words, it is a useful concept. In short, ISPM is about gaining visibility into the identity environment and assessing the situation from a risk standpoint. From there, ISPM helps inform strategic and tactical efforts to bolster identity security.