Sentiment analysis or Opinion mining is one of the fastest growing fields with its demand and potential benefits increasing every day. With the onset of internet and modern technology there has been a vigorous growth in the amount of data. Each individual is able to express his/her own ideas freely on social media. All of this data can be analyzed and used in order to draw benefits and quality information. One such idea is sentiment analysis, here, the sentiment of the subject is considered and necessary information is drawn out whether it be a product review or his/her opinion on anything materialistic. A few of such applications of sentiment analysis and the method in which they are implemented are explained. Furthermore, the possibility of each of these works to effect any future work is considered and explained along with the analysis as to how the previous problems in the same field have been overcome.