[term] + 是指 + [definition]
[term] + 指的是 + [definition]
[term] + 指 + [definition]
是指 says what a term means. The term is the subject, and the definition follows as a noun phrase or a clause. It belongs to textbooks, reports and papers.
指的是 means the same and fits speech as well as writing. It's the usual choice for explaining what a particular person meant.
In laws and dictionaries 是 drops and 指 stands alone.
The negative is 指的不是, often answered by 而是.
是 says what something is. 是指 says what a word or phrase stands for, so its subject is a term, an abbreviation or a quoted expression, never a person or thing in the world.