Multispectral Image Analysis (MIA) is an exciting area of research and famous due to its utilization in geo monitoring, such as environmental change detection and region classification. Currently, many other areas are also emerging and are utilizing the multispectral imagery for improving the existing business processes and ensuring the reliability in the existing business methods. However, the process of generating and analyzing multispectral data needs more sophisticated techniques and methods. Also, the multispectral data possesses some temporal and structural inconsistencies, which make the existing multispectral analysis a more challenging task. Therefore, this study surveys the practical implication and possible issues in multispectral image analysis. For that reason, this study aims to investigate the two simple research questions and follow a structured analysis approach to achieve the research objectives. The rest of the paper is structured as; Section II briefly explains the systematic methodology adopted for this survey. Section III is relevant to research finding in response to the RQ1 and RQ2. Finally, Section IV presents the conclusion of this study. In future work, we will sharpen this study towards Skin Disease Analysis using Multispectral Imagery. © 2020 IEEE.