Does the type of whey matter?

I was honestly not aware that whey protein came in different types so I am somewhat confused about this. I don't want to end up getting the wrong protein supplement. 

From my understanding, there is WPC which is whey concentrate, WPI which is isolate, and WPH which is hydrolysate - something I have never heard of in my life! I am not sure if this matters or not but considering there are three forms on the market, there has to be a reason behind this. I am curious if the type actually matters and if it does, what would be best for beginners?