Global Smash Power (GSP) is a measure of how many players you are stronger than, used in the Quickplay online mode (higher is better). Each character has an individual GSP ranking. It's used to help pair you against players of similar strength.
Because your GSP depends on the number of active players, it may change over time as more players become active online, even if you don't play any games.
Most rating systems (such as the Elo rating system) assume a normal distribution of skill levels. It's reasonable to assume that the internal calculations used by GSP operate similarly. That means GSP does not scale linearly. It's harder to gain GSP at very low and very high values, and easier to gain at middling values.
Since GSP varies over time, your GSP is also converted into a percentile measurement, which is more meaningful since it doesn't depend on the number of active online players. The percentile data is sourced from historical data from elitegsp.com.