Abstract Machine learning has been facing significant challenges over the last years, much of which stem from the new characteristics of machine learning problems, such as learning from streaming data or incorporating human feedback into existing datasets and models. In these dynamic scenarios, data change over time and models must adapt. However, new data do not necessarily mean new patterns. The main goal of this paper is to devise a method to predict a model's performance metrics before it is trained, in order to decide whether it is worth it to train it or not. That is, will the model hold significantly better results than the current one? To address this issue, we propose the use of meta‐learning. Specifically, we evaluate two different meta‐models, one built for a specific machine learning problem, and another built based on many different problems, meant to be a generic meta‐model, applicable to virtually any problem. In this paper, we focus only on the prediction of the root mean square error (RMSE). Results show that it is possible to accurately predict the RMSE of future models, event in streaming scenarios. Moreover, results also show that it is possible to reduce the need for re‐training models between 60% and 98%, depending on the problem and on the threshold used.