While precognition is used most commonly to describe the prediction of the future, it is in fact an umbrella term that covers several types of similar abilities.
The prediction of the future
Remote viewing of past events, such as psychometry
Enhanced perception of the current moment that does not have a defined vector. Examples include the ability to create superhumanly detained inferences, or the ability to detect the locations of objects without directly observing them. This is the broadest category, and a "catch-all" for any ability that cannot be described as a mere enhanced sense.
Precognitive abilities are separated into two categories. Prediction and Determination. These two forms perform the same basic role, modeling future events, but how they do so and the end results of doing so vary based on the ability. In order to explain both forms of precognition, the model of the future as a quantum state is used.
The future exists as an infinite series of possible states, which co-exist by virtue of remaining unobserved. Once they are observed, either by reaching the current moment or by precognition, they collapse into a singular deterministic timeline.
Abilities that utilize Prediction as a method often generate more than one result at a time. This includes powers that generate a spread of possibilities from a single moment, or give probabilities of the occurrence of certain events. These abilities index possible futures that have not yet collapsed into a single timeline. A snapshot is provided through the power, utilizing predictive modeling similar to the idea of Laplace's Demon, which functions by indexing the current positions of all relevant particles and predicting their future positions based on the possible variables. In a sense, Prediction abilities do not actually show the future, but rather a simulation of it, and as such the future remains mutable.
Determination abilities are closer to the concept of "true" precognition than Prediction abilities are. A single timeline is selected by the power, and then all other possibilities are collapsed through unknown means, creating a deterministic pathway to the observed end. Determination abilities are "stronger" than Prediction, however they are often more heavily limited by conditions and drawbacks, emphasizing quality over quantity. In addition, if the predicted future is undesirable, it could not be averted.
By nature, precognitive abilities interfere with each other. As predicting a prediction would result in a feedback loop, the presence of other precogs is filtered out of both Prediction and Determination images of the future. This creates a loophole in the absolute nature of Determination abilities, as the blindspots created by another precognitive can leave mutable segments of time, where events in the precog's vicinity can be altered. Very few abilities lack this limitation, and the ones that do are exceedingly powerful.
Another blindspot common to all precognition users is parahuman activations. The presence of an activation can be detected, but the circumstances and results become obscured. This is postulated to be a result of the brief moment of violently distorted reality that proceeds the crystallization of powers, as activated parahumans can be predicted normally otherwise.
Precognitives are widely used by governments and private organizations worldwide, and most notably by AECIF, who maintain a network of precogs that serve as both a threat assessment and detection system and a "firewall" to prevent enemy prediction that might include classified information. Precog use for monetary or legal gain is banned in most countries, and those with such abilities are not allowed to run for office or actively involve themselves in the stock market, among other restrictions.