Somewhat stating the obvious but good to read nonetheless:
The emerging findings point strongly towards memorised poetry being a resource with the potential to enrich lives in different ways over many years. Knowing a poem by heart appears to support a very distinctive quality of attention and connection which in turn fosters a rich and lasting relationship with that poem. Such a relationship is not antithetical to the kinds of understanding produced by literary analysis and close reading, but has the potential to work in synergy with it. Equally, for many people, the memorised poem plays a valuable role in making meaning from life’s experiences, and to give expression to meaning in language.
(University of Cambridge Poetry and Memory – Project Report)