Is memorization of facts and figures really "pointless"?

Scientific studies over the past few years have suggested that using our brain on a regular basis is critically important for maintaining our mental capability. Researchers have shown that most people can keep their mental capacities from declining just by doing simple things on a regular basis, such as reading the newspaper, playing chess, learning and memorizing poetry, maintaining social interactions, or attending lectures or performances. Memorizing data exercises the brain which improves cognitive functions. Perhaps, we, as soon to be educators need to look at memorization from a different angle.
From a simplistic viewpoint, it is knowledge versus understanding. I agree with Tapscott that memorizing facts and figures to satisfy testing is a waste of time. However, if committing key data to memory aids in developing meaning and clarity for understanding about historical events then it is necessary. According to Bloom, “understanding is the ability to marshal skills and facts wisely and appropriately, through effective application, analysis, synthesis, and evaluation.”Memorization of data is part of marshaling skills and facts wisely and appropriately. I do not agree that one should take such an absolute stand as Tapscott that “memorizing facts and figures is a waste of time”. There needs to be more thought and research based data available before I can say I agree wholly with Tapscott.