An understanding of Biblical Prophecy is extremely important in understanding the Bible itself.  This is important for several reasons.

 

1.  Much of scripture WAS prophecy at the time it was written so the sheer quantity of material, and space given it in the Bible makes it crucial.

 

2.  The verifying nature of Prophecy identifies the point of origin of the Biblical message as coming from outside of the time domain, therefore God.  It is true that specially selected men DID become the "penman" of God, but the message itself could NOT have been of human origin since it speaks of events NOT yet occured, with absolute precision.

The works of Nostradamus are NOT worthy to be compared with that of the Bible as Nostradamus' works are so general that many supposed fulfillments are possible, and the the relevance of those "prophecies" are not clear at all.  Scripture on the other hand speaks of complex chains of events laying out so many specifics, as to preclude the coincidental fulfillment found in the Nostradamus works or any comparison therewith.

3.  The Scripture itself makes it clear that those who love God, and value his prophetic handiwork are particularly blessed.

 4.  Prophecy becomes even more important when we see the events described therein happening around us, and find our way to act in obedience to God, in accordance with those events.

 The Bible tells us that Israel would be judged twice, and exiled from their land twice, but that their return from the second exile would signal the end times, the culmination of the balance of Biblical prophecy, and God reinitiating His dealings with His chosen people, the Jews.

Every promise God made to Abraham must be fulfilled, otherwise God becomes a liar.  This is why Satan has hated the Jews and sought to destroy them time and again: because IF Satan could wipe out the Jews, so much of what God said would be negated, and Satan would be victorious.  So aligning against Israel (though they are mere humans, and subject to all the same failings we gentiles are) Is to align ourselves against those God himself has purposed to bless, in his sovereignty.  "...Blessed be the Lord God of Shem..." Genesis 9:26