Yeah you'd need to get one to be on it. I had a friend switch to it (tracker) with just the electric smart meter (gas was normal dumb meter). I think it means the usage is split across the days and then charged at those day rates rather than what they actually used on those days. Octopus are quite good if you register your interest in a smart meter as they'll email you when an installer is going to be working in your area for dates.
If you see my post above yours, you'll see the average unit price my bill recently came to, which is nearly half yours for electricity anyway so you'd see a big saving even with linear usage. I'm in the London energy region though so your area would need to be checked for the average to get a rough idea but if you do some calculations (see the average rates for your area on
https://gastracker.uk for whichever duration, 30d, 90d, 1y etc.), add 5% VAT on top of that you'll get a rough idea of the price you'll be paying.
So far, switching to tracker has been the biggest saving I could make, having done all the other improvements such as reducing energy usage, changing for efficient lights, turning off unused devices etc. Check the other energy thread where you'll see quite a few members who've made the switch and seen saving.