I would say it could, but not that it will. All I can say is that it can help you understand where your power is going now, but that doesn’t necessarily shed any light on what’s changed.
The usual approach in your situation is to go after the suspects that have the potential to use a lot of power. If you have electric heat that’s a prime suspect. But there are other appliances that may seem like smaller users, but when they run excessively can run up a big bill.
My house is about the size of yours. I use about the same as you this time of year because I run a heat-pump from October to May (Northern New England). But I averaged 34.7 per day last year.
I can break that down and remove the heat-pump and Hot Water. You can see when the family comes for 4th of July, Thanksgiving and Christmas.
If things change a lot, I can see it happen.
Some things that users have reported:
Well Pump running constantly (leak in the well).
Some HotTubs have pumps that draw 500 Watts and can run 24/7 if controls not set correctly. That uses 12 kWh/day! Had a case where the HT was doing that and the owner thought it was the heater at 5,000 Watts. But the IoTaWatt showed the Heater only running for less than an hour with a good cover using about 4kWh/day. The pump was the culprit and the controls allowed setting it to run 4 hours/day saving 10kWh/day.
Outdoor lighting is sometimes incandescent spotlights. A couple of 150W spots will use 3 kWh in a 10 hour night. LEDs are available that can cut that by 90%.
Air Conditioning can run excessively when it’s very humid. Sometimes less is more. We run our 12,000 BTU minisplit on dehumidify only during the worst of summer. It hardly uses any power and the house is very comfortable at 76deg. You have to just keep it shut to make that work.
In short, the old saying “measured is managed” goes a long way. You never know what you will find. The advantage is that takes out the gueswork. You identify the big users and then if there is a more efficient solution, you can determine fairly accurately what the savings would be.