To my understanding this is the core mechanism memory champions use to memorize huge amounts of arbitrary information like digits of pi[1]: encode the data as a picture.
I got interested in improved memory techniques a few years ago as my grandmother was losing her memory. I used to struggle with simple things like remembering my airport gate and seat number (I'd neurotically pull out my phone or boarding pass to check dozens of times) or hotel room number (I had to keep looking at the number written on the key on my way up the elevator and down the hall and I'd often forget if I left the key sleeve in the room).
After practicing for a few weeks I was able to encode random information like my friend's passport number, phone numbers, and addresses into amusing visual stories without much trouble. I can still recall them years later.
Learning a few simple visual encoding systems like the mnemonic major system[2] has been a great investment in my life.
1. https://youtu.be/mI96Ph-yHcA 2. https://en.wikipedia.org/wiki/Mnemonic_major_system