Memorization helps your mind range over the whole context and match scripture with scripture. Memory work improves your ability to concentrate. Some have asked what version to memorize. My answer is, memorize from the version you like the best. If you get into this, you'll be saying passages of scripture over to yourself many times.
Some newer versions seem to be more clear in many places, and sometimes more accurate.
So make the choice that you can stay with. Others will type each chapter on a piece of paper and carry it in a legal folder. Some have pocket Testaments. You'll gravitate into a system that works for you. There are many methods for memorization.