The inertia of today׳s power system decreases as more and more converter connected generation units and load are integrated in the power system. This results in a power system which behaves differently from before which causes concerns for many grid operators. Therefore, a detailed study is needed to investigate the relevance of this inertia in the operation, control and stability of the system. Moreover, a new definition of the term system inertia is necessary since is it expected that in the future also the renewable electricity generation units will deliver the so-called virtual (synthetic) inertia. In this paper a review of the research related to inertia in a power system is given. Both the challenges as the solutions from an operator point of view to control a system with low inertia are discussed. Also a new definition of inertia is proposed to incorporate the different forms of inertia which are each described in more detail. From recent studies, it can be concluded that the influence of reduced inertia on frequency stability is generally considered as the main challenge for system operators, but with the additional measures listed in this paper, this impact can be mitigated.