in effect; virtually: It is practically useless to protest.
in a practical manner: to think practically.
from a practical point of view: Practically speaking, the plan is not very promising.
almost; nearly: Their provisions were practically gone.

1615–25; practical + -ly

A few usage guides object to the use of practically in the senses “in effect, virtually” and “almost, nearly.” Both uses, however, are well established and standard in all varieties of speech and writing. Unabridged
Based on the Random House Dictionary, © Random House, Inc. 2014.
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World English Dictionary
practically (ˈpræktɪkəlɪ, -klɪ)
1.  virtually; almost: it has rained practically every day
2.  in actuality rather than in theory: what can we do practically to help?

Collins English Dictionary - Complete & Unabridged 10th Edition
2009 © William Collins Sons & Co. Ltd. 1979, 1986 © HarperCollins
Publishers 1998, 2000, 2003, 2005, 2006, 2007, 2009
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Example sentences
Practically everyone becomes an amateur photographer when they
  travel-photographs are a way to capture the experience.
Lab-grown gemstones are now practically indistinguishable from mined diamonds.
Newscasters are practically automatons already, so a synthetic anchor comes as
  a welcome alternative.
Sleep is such a fundamental biological drive that it's shared by practically
  every species, from fruit flies to humans.
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