Identity in Sailpoint is the main object on which Sailpoint keeps track of everything. Identity could be a living or non-living object name.
Identity could be a person like John, Allen, etc. or it could be a service account also like svc-1, svc-2, or anything.
In Sailpoint, everything revolves around Identity, that’s why Identity is like master data.
Sailpoint governs on identities that which identity has access to what resource and whether the identity has right to access to any application or entitlement.