The purpose of the branch predictor is to improve the flow in the instruction pipeline.
The longer the pipeline the greater the need for a good branch predictor.
But the branch predictor keeps records of whether branches are taken or not taken.
A local branch predictor has a separate history buffer for each conditional jump instruction.
A global branch predictor does not keep a separate history record for each conditional jump.
The first branch predictor is fast and simple.
So an early branch predictor simply did that.
For a more thorough description of the problems which arose, and a popular solution, see branch predictor.
Branch history table, a term used in computer science for branch predictor.
The net result is that the branch predictor has a larger effective history table, and so has better accuracy.