The act of learning a poem by heart or fixing certain details in your mind so you can recall them later is memorization. If your memorization skills are strong, you'll have no trouble recalling the multiplication tables.
Shakespearean actors have to be good at memorization — there are a lot of complicated lines in those plays to commit to memory! Even if you're not giving soliloquies on a stage, memorization is important to all of us. Without it, you wouldn't remember your zip code, phone number, locker combination, or the passcode to unlock your smartphone. The noun memorization comes from the Latin memoria, "faculty of remembering."