For shiny hunting, Yes.
The thing about the Pokeradar is that it takes time, concentration and skill, whereas the Masuda method just takes time. However, if you put enough effort into using the radar, you will get better at it, and the time it takes to get a shiny will be less than Masuda method (which can often take weeks and thousands of eggs). Both methods do depend on luck as well, but I find that with the radar I have more control over what I'm doing, whereas with the Masuda method it's like watching paint dry.
However, the problem with the radar is your chain can sometimes break because of the smallest thing, so concentration is really needed. Masuda-ing, however, you can watch TV and even just slot a bit of card under your circle pad to hatch eggs, so it really depends on what you want to do/ how much time you have/ whether you want to multi-task. Also, the radar is very limited in X&Y as there are not a lot of places where you can chain well.