How useful is this in praction ?

Sure, you can for example use it to memorize the content of textbooks for exams, similar to what is posted here:

Use it to learn speeches (presentations) so that you don’t have to rely on notes and you can focus more on the audience.

Could you give somewhat more precise examples of what exactly you want to use it for? Here’s a video that explains how to memorize all the US presidents… not sure if that is what you mean, but just to give you an idea:

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