A host device includes a controller configured to receive input/output (IO) access information associated with an IO workload, the IO access information identifying at least one of a read action and a write action associated with the IO workload over a period of time. Based upon the received IO access information associated with the storage element, the controller is configured to derive a predicted cache access ratio associated with the IO workload and relating a predicted number of cache accesses associated with the IO workload with at least one of a total number of read actions and a total number of write actions associated with the IO workload. When the predicted cache access ratio reaches a threshold cache access ratio value, the controller is configured to identify the IO workload as an IO workload candidate for caching by the host device.