Learning analytics provides a novel means to support the development and growth of students into self-regulated learners, but little is known about student perspectives on its utilization. To address this gap, the present study proposed the following research question: what are the perceptions of higher education students on the utilization of a learning analytics dashboard to promote self-regulated learning? More specifically, this can be expressed via the following threefold sub-question: how do higher education students perceive the use of a learning analytics dashboard and its development as promoting the (1) forethought, (2) performance, and (3) reflection phase processes of self-regulated learning? Data for the study were collected from students (N = 16) through semi-structured interviews and analyzed using a qualitative content analysis. Results indicated that the students perceived the use of the learning analytics dashboard as an opportunity for versatile learning support, providing them with a means to control and observe their studies and learning, while facilitating various performance phase processes. Insights from the analytics data could also be used in targeting the students' development areas as well as in reflecting on their studies and learning, both individually and jointly with their educators, thus contributing to the activities of forethought and reflection phases. However, in order for the learning analytics dashboard to serve students more profoundly across myriad studies, its further development was deemed necessary. The findings of this investigation emphasize the need to integrate the use and development of learning analytics into versatile learning processes and mechanisms of comprehensive support and guidance.