Why is the study of eyewitness memory important?
Memory is a very visual and complex thing, and the theories should be able to understand where it is strong and where it is vulnerable. Because of this, Loftus was trying to gain as much information on such weakness or strength as possible to form a more complete knowledge of memory's abilities. This is proven by the following quote:
"It is clearly of concern to the law, to police and insurance investigators, and to others to know something about the completeness, accuracy, and malleability of such memories."
We are not constantly asked to supply detailed accounts of information, but in the above cases, it's evident that knowing the extent of the memory and its fault will help treat eyewitness testimony with the appropriate amount of caution.
Do the studies support the use of eyewitness testimony?
According to the quote provided, Loftus highlights the importance of the law in concern to witness testimony and the ability to recall what was seen, but also that the malleability should be taken into account. Eyewitnesses are often very helpful to the case, as it is the direct source of information of a crime committed. It is, however, important to make sure that they are being honest, and that any prosecutor's word choice in cross-examinations do not influence the retelling of what was seen. Humans are prone to make errors, whether purposefully or accidentally, and that should be taken into account. That said, the studies do support the testimony as important.