The moment of inertia is the resistance to change in rotational motion analogous to the mass for linear motion. If you think about the definition of energy = 1/2mv^2, using w is angular velocity we want to define I so that 1/2 Iw^2 is also the energy. But v=rw so mv^2=mr^2w^2 so if we define a variable I=mr^2, then we have the desired result, the energy of an object rotating at a angular velocity w will be 1/2 Iw^2. You can do calculations with out using I but it is more tedious