There are three necessary parts to profitable Bible study:
Reading is necessary for familiarity and discernment.
Without reading for yourself, the only thing you will understand will be what someone else tells you.
Understanding is necessary to explain what a passage means.
Without understanding you may be familiar with the Bible but cannot explain it. There are many who read but do not know what God means. This is where context is important and dispensational teaching shines.
Application is necessary to put the word to work.
Without application your life and mind will not be changed by the word of God. It will not influence you.
Right division helps with understanding, but if students do not read for themselves, they become followers of teachers.
If students do not put the word to work (application), then they become puffed up, carnal, or frustrated instead of faithful and fruitful.
All three are necessary. Without any one of them, your Bible study may hurt more than help.
For your profit,
Justin “whole truth” Johnson