SMARTReporter is a Mac program designed to identify impending disk failures before they actually happen. This utility uses S.M.A.R.T. (Self-Monitoring Analysis and Reporting Technology) to check the status of your hard drives at any interval of time you like and provides you with detailed reports.
A few of the most common reasons why your hard disk drive could fail are electrical or mechanical problems, accidental shocks, etc. If one of these unfortunate events occur, the risk of losing your data is increased. SMARTReporter lets you know how bad is the current state of your hard drives so that you can back up your data before it's too late.
The app lives on your Menu Bar. The color of its icon indicates the current state of your hard drives. If it's green, then you don't have to worry about any hardware issues. The red icon indicates that the app found impending disk errors and you need to back up your files as fast as you can.
As it's being mentioned on the homepage of the developer, this program warns you about pending hard disk drive problems. So, it doesn't look for software-related issues that cause data loss like the hardware errors.
Unfortunately, some internal disk models don't support S.M.A.R.T (SSD built into the 2015 12" MacBook and OWC Aura SSD for Mac Pro). Hence, these products cannot be verified by the SMARTReporter application.
In conclusion, it's definitely worth buying SMARTReporter if you don't own one of the aforementioned hard disk models.