The Internet is a house of indeterminate and ever-growing resource of information. Text Summarization has become a critical requirement for effectively managing the clogged data. The technique of retrieving relevant information from various unorganized sources is commonly known as the process of text mining. Multiple methods like the term-based approach, phrase-based approach are applied to structure data. In this research paper, extensive discussion on numerous techniques that are used to extract useful information are mentioned. The central objective of this is to highlight the issues or drawbacks of each such technique, try to resolve them, and select one such method that could be used to summarize the textual content. The algorithm used for text summarization is Sum Basic. Sum Basic is a text summarization process that creates multi-document summaries. The primary concept of the text summarization is to produce a summary, wherein the persistent occurring terms in a document should be prioritized above less frequently appearing words.