Maturity models are frameworks that assess the evolution and capabilities of an organization, process, system, or product. They help organizations understand where they are currently, identify areas for improvement, and determine how to evolve capabilities over time. The document discusses why maturity models are needed, as many organizations are not effectively managing customer experiences in the digital era. It provides examples of maturity models used in different domains and outlines typical elements of maturity models like levels of proficiency. The document advocates that organizations understand where they are and use maturity models as guides to formalize knowledge and strategies for continuous improvement.