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Sentiment analysis is a natural language processing (NLP) technique used to decide if the underlying sentiment is positive, negative, or neutral. Subjective information from the text can be extracted using sentiment analysis by recognizing its context and position. Data from a variety of sources, like social network comments, news stories, consumer reviews, and more, can be used for sentiment analysis. Sentiment analysis uses different algorithms to analyze words, phrases, and context available in text and different procedures to determine the overall sentiment communicated. There are various ways in which sentiment analysis is performed, ranging from rule-based methods that use lists of positive and negative terms as labeled data for training machine learning algorithms to building classifiers. Understanding social sentiment, underlying intents, and responses to various characteristics of humans can be done with the help of sentiment analysis, which helps in decision-making. The primary goal of this work is to provide the audience with the knowledge needed to understand sentiment analysis, highlight potential opportunities and challenges, and investigate recent studies that have been published in reputable resources focusing on the field of sentiment analysis in NLP.