For several years people have realized the importance of archiving and finding information. With the need of computers, finding useful information from such collections has become a necessity. Information retrieval has become an important research area in the field of computer science and gained importance in several fields like business, healthcare, agriculture, medicine, law and many other fields. Information retrieval is finding material that could be in the form of a document consisting of unstructured nature that provides the required information. This research paper focuses on the need, models and the processes involved in information retrieval. A case study on INSYDER system has been proposed to gain holistic knowledge of information retrieval in the field of business.