PurposeThe purpose of this paper is to consider the use and application of the “grey system” modelling methodology for the prediction and characterisation of inert anodes used in the aluminium electrolysis industry.Design/methodology/approachCermet was very interesting potential material for developing inert anodes, which was composed of ceramic phase (NiFe2O4) and metal/alloy phase (nickel‐iron‐copper).FindingsDifferential thermal analysis showed that newly fabricated cermet had good performance. The calcination temperature was very important for evaluating material properties, so was obtained in order to build the forecast grey model.Originality/valueThrough calculation the GM(1,1) model was proved to be accurate in predicting technical parameters, and able to pinpoint precisely the properties of cermet materials.