Prediction of solar activity cycles is challenging because the physical processes inside the Sun involve a broad range of multiscale dynamics that no model can reproduce, and the available observations are highly limited and cover mostly surface layers. Helioseismology makes it possible to probe solar dynamics in the convective zone, but variations in the differential rotation and meridional circulation are currently available for only two solar activity cycles. It has been demonstrated that sunspot observations, which cover over 400 years, can be used to calibrate the Parker-Kleeorin-Ruzmaikin model and that the Ensemble Kalman Filter (EnKF) method can be used to link the model magnetic fields to sunspot observations to make reliable predictions of a following cycle. However, for more accurate predictions, it is necessary to use actual observations of the solar magnetic fields, which are available for only four solar cycles. This raises the question of how limitations in observational data and model uncertainties affect predictive capabilities and implies the need for the development of new forecast methodologies and validation criteria. In this presentation, I will discuss the influence of the limited number of available observations on the accuracy of EnKF estimates of solar cycle parameters.