The rapid changes in nanotechnology over the last ten years have given scientists and engineers a lot of new things to study. The nanofluid constitutes one of the most significant advantages that has come out of all these improvements. Nanofluids, colloid suspensions of metallic and nonmetallic nanoparticles in common base fluids, are known for their astonishing ability to transfer heat. Previous research has focused on developing mathematical models and using varied geometries in nanofluids to boost heat transfer rates. However, an accurate mathematical model is another important factor that must be considered because it dramatically affects how heat flows. As a result, before using nanofluids for real-world heat transfer applications, a mathematical model should be used. This article provides a brief overview of the Tiwari and Das nanofluid models. Moreover, the effects of different geometries, nanoparticles, and their physical properties, such as viscosity, thermal conductivity, and heat capacity, as well as the role of cavities in entropy generation, are studied. The review also discusses the correlations used to predict nanofluids’ thermophysical properties. The main goal of this review was to look at the different shapes used in convective heat transfer in more detail. It is observed that aluminium and copper nanoparticles provide better heat transfer rates in the cavity using the Tiwari and the Das nanofluid model. When compared to the base fluid, the Al2O3/water nanofluid’s performance is improved by 6.09%. The inclination angle of the cavity as well as the periodic thermal boundary conditions can be used to effectively manage the parameters for heat and fluid flow inside the cavity.