Little is known about the processes institutions use when discerning their readiness to implement learning analytics. This study aims to address this gap in the literature by using survey data from the beta version of the Learning Analytics Readiness Instrument (LARI) [1]. Twenty-four institutions were surveyed and 560 respondents participated. Five distinct factors were identified from a factor analysis of the results: Culture; Data Management Expertise; Data Analysis Expertise; Communication and Policy Application; and, Training. Data were analyzed using both the role of those completing the survey and the Carnegie classification of the institutions as lenses. Generally, information technology professionals and institutions classified as Research Universities-Very High research activity had significantly different scores on the identified factors. Working within a framework of organizational learning, this paper details the concept of readiness as a reflective process, as well as how the implementation and application of analytics should be done so with ethical considerations in mind. Limitations of the study, as well as next steps for research in this area, are also discussed.