I have an activity, which is very simple in conceptual sense:
Exploration of possible demand and extraction of interesting products.
- Product is considered "interesting", if it seems to be (possibly) "buyable". Another condition is to check, if in some countries there are very nice prices (alibaba.com, for example, may be the source of data).
Walking to possible distributors and figuring out if they are interested in production.
If some of them are interested, concluding a contract about supply in few weeks or so.
Now I am planning to achieve automatization of the prediction process.
So, I would like to hear from experienced people if demand prediction is effective. I have heard about data mining, machine learning and many other ideas, but I am unsure, if it will work in my practice. Of course, extra huge decrease of "area of interest" (few thousands of products to dozens of really interesting ones) is acceptable too.
Thanks in advance!