We present measures, models and link prediction algorithms based on the structural balance in signed social networks. Certain social networks contain, in addition to the usual 'friend' links, 'enemy' links. These networks are called signed social networks. A classical and major concept for signed social networks is that of structural balance, i.e., the tendency of triangles to be 'balanced' towards including an even number of negative edges, such as friend-friend-friend and friend-enemy-enemy triangles. In this article, we introduce several new signed network analysis methods that exploit structural balance for measuring partial balance, for finding communities of people based on balance, for drawing signed social networks, and for solving the problem of link prediction. Notably, the introduced methods are based on the signed graph Laplacian and on the concept of signed resistance distances. We evaluate our methods on a collection of four signed social network datasets.