I once tried and failed to implement databinding(It feels like doesn't worth all the extra effort we have to take to set it up). Now it seems like things are changed a bit and I am ready to try it one more time. So this is the retry on databinding.
The following article(there are lot of other helpful articles related to databinding) helped me to understand databinding:-
https://medium.com/swlh/android-data-binding-in-views-for-theming-your-app-580c0bf06c18