keeps things organized...
i also like that it puts the players in CAPITALS to easily pick them out. i use the lock icon with my 'keeper prospects' for the same reason. On the rosters and transaction screen i can fit the MLB and 8 MiLs. the guys in caps are typically players i intend to trade or maybe future bench players i want to keep etc. if i see it's capitalize i know they are important for something. how this helps: various ways like ST - i instantly know how to bump up, i don't have to memorize any names. promotiosn and demotions are easier - i leave the "filler" players during the year and 99% only promote/demote players that are locked or capitalized... (players are added and removed from these locks/shortlists over time... the lists do need to adapt to TCR and such - do it in a systematic and logical manner - timing can be key to save effort)
i use them in a temporary way, too... to avoid redundant tasks.. e.g. with the draft, as i browse through a potential 1st-2nd pick, i'll shortlist alternatives that are worthy of that round's pick...later in the draft that can be a bigger list to help with mulple rounds at a time. i'm not looking over the same 5-10 choices each time.. once (well, a few times, but not # of rounds times) and if they are still available, i know they are still the best options.
i typically have targets for years, but you can use this for trades, too. it's always good to have 2-3 ~equivalent targets to compare trade packages. if differences are negligible, i take the ones that cost less
... go out build a list of potential candidates, widdle it down to 2 or 3.. way easier to compare them side by side on a shortlist (anytime greater than 2 players)
i use shortlists to track high-end prospects not in my organization.. mostly from the above temp draft shortlist.. if i don't draft them but like them, i will put them on a "Watch List." When i am putting in the effort, i also once a year add/remove to that Watch list with a few prefered ratings filters of various types of players i target for various roles. list all, include minors, not MLB (if during reg season) then some potential ratings filters for team roles. if i had to guess, maybe 10+ batters / 10+ pitchers at any one time on the list...
These lists require maintenance.. once you get them going it doesn't take much effort, if you keep up on them... and the reduction in time and effort elsewhere in the game will more than make up for it. add a few, remove a few once in a while and it stays up-to-date. i have to use the reminders, lol... or plan to use them more. maybe add a custom event on specific dates to do things etc...