This paper examines the current state of learning analytics (LA), its stakeholders and the benefits and challenges these stakeholders face. LA is a field of research that involves the gathering, analyzing and reporting of data related to learners and their environments with the purpose of optimizing the learning experience. Stakeholders in LA are students, educators, researchers, institutions, and government agencies. The way in which analytics information flows from students to other stakeholders involves a hierarchy, where all stakeholders are able to provide input and offer recommendations to enrich the learning process for the student. Challenges faced by stakeholders include the movement of traditional analytics to learner-centered analytics, working with datasets across various settings, addressing issues with technology and resolving ethical concerns. Despite these challenges, research points to solutions that will allow LA to transform teaching and learning.