A number of previous studies have examined various statistical methods for the prediction of geomagnetic activity, particularly based on predictor input of solar wind variables. However, investigation of the potential for a simple binary prediction system based on either “quiet” or storm-level activity of the planetary magnetic field has been severely lacking. The goals of the current analyses were to identify potential space weather models for the accurate prediction of geomagnetic storm events. Furthermore, while the deleterious or negative effects of increases in geomagnetic activity on a range of terrestrial systems have been focused on in the past, theoretical perspectives on the potential benefits of significantly increased geomagnetic perturbations are considered