Studying phylogenetic trees can help us understand the evolution of present-day species. By analysing these trees, we can compare different species of animals and gain a better understanding of how they have evolved. We can also learn about major changes in evolution, such as the rise of new body plans or metabolism, the origin of new genes, molecular adaptation, morphological character evolution, and demographic changes in recently diverged species. Various types of algorithms exists for constructing phylogenetic trees. In this article, we have taken a closer look at four of these algorithms, which can be categorized into two types on the basis of the method used: distance-based and character-based. Furthermore, we have also delved into the numerous applications of phylogenetic trees, as they serve a significant purpose in various fields.