Is it worth memorizing static GK for exams that increasingly test analytical reasoning?

There's an ongoing debate in my coaching circle: with exams moving toward case studies and data interpretation, does rote memorization of static General Knowledge still hold value? I worry that spending hours on capitals and awards might yield lower returns compared to sharpening analytical skills.

On the flip side, many toppers still swear by strong static GK foundations. What's your take? Should one prioritize memorization in the early stages and switch to reasoning later, or is an integrated approach better? I'd love to hear experiences from those who've cleared recent exams.