Basically what you do is start at your substation and get a reference to A-B-C phases then you can go anywhere on your system and be able to tell what phase you are attaching it to.
Yes it will help with smart meters once you know all of your phasing on 3 phase and your taps, when a certain batch of meters show up as an outage you will know where to head for when their is an outage.
With smart metering maps you basically allready know the location.
The tracker works great for new installation when you don't know your phasing.
Here is some information on it.
http://www.iamu.org/documents/fileli...AFCC6A375D.pdf