Network slicing (NS) presents the key enabler of cellular network improvements. It allows enhancing the performance of diverse requirements supported for verticals industries. The concept of NS was carefully studied over the previous few years, and the primary operational principles were developed. However, there is an important need for more investigations on studying NS to enable further development. This article offers a deep study related to the NS principle, the recent standardization process for Third Generation Partnership Project and Fifth Generation Public Private Partnership, the diverse broad use cases, NS key concepts, NS architectures, and NS management and orchestration. Besides, it discusses radio access network slicing and sharing, the algorithms, the projects, and the NS practical experience and practices. Finally, this article proposes and highlights a possible solution to several open research issues.