Higher education institutions and involved stakeholders can derive multiple benefits from learning analytics by using different data analytics strategies to produce summative, real-time, and predictive insights and recommendations. However, are institutions and academic as well as administrative staff prepared for learning analytics? A learning analytics benefits matrix was used for this study to investigate the current capabilities of learning analytics at higher education institutions, explore the importance of data sources for a valid learning analytics framework, and gain an understanding of how important insights from learning analytics are perceived. The findings reveal that there is a lack of staff and technology available for learning analytics projects. We conclude that it will be necessary to conduct more empirical research on the validity of learning analytics frameworks and on expected benefits for learning and instruction to confirm the high hopes this promising emerging technology raises.