Analysis of smart meter and/or similar data based on frequency content is disclosed. In various embodiments, for each of a plurality of resource consumption nodes a time series data including for each of a series of observation times a corresponding resource consumption data associated with that observation time is received. At least a portion of the time series data, for each of at least a subset of the plurality of resource consumption nodes, is transformed into a frequency domain. A feature set based at least in part on the resource consumption data as transformed into the frequency domain is used to detect that resource consumption data associated with a particular resource consumption node is anomalous.