It depends on what your TA is. If you need to increase your alkalinity quite a bit, then it could work well for you. If your TA is only slightly low, you might consider the 20 mule team borax powder as it increases Ph while increasing TA much less. If your TA is already right where you want it, you should aerate to increase Ph.
Play around with the "Effects of adding chemicals" in
http://www.thepoolcalculator.com to see how much TA you would add with each of the chemicals. Just make sure you plug in all of your numbers correctly first.