Since the 1990's, nanofluids have been one of the abundantly preferred newcomer technology invented to assist in electronic and heat transfer purposes. Their thermophysical properties and heat transfer performance make nanofluids highly demanded to overcome the current issues in the world. In this paper, a vast number of applications using nanofluids are reviewed as well as an epitome on the challenges in their respective areas. Additionally, recent research papers for specific applications of nanofluids in improving heat transfer efficiency were outlined while the experimental and theoretical methods were discussed in the articles and journals is summarized in this paper including the effects of thermal properties on the performance of nanofluids. In a nutshell, this review of experimental research extracted from most recent papers, published from 2011 to 2016, is a review on the latest updates in the nanofluids and heat transfer community to help anyone in concern of the topic and enough information to select nanofluids based on their needed applications.