This compound is primarily utilized in organic synthesis as a building block for the preparation of more complex molecules. It is often employed in the development of pharmaceuticals, particularly in the synthesis of compounds with potential therapeutic properties. The presence of the hydrazine moiety makes it a valuable reagent for the formation of hydrazone derivatives, which are useful in the creation of various biologically active molecules. Additionally, it can be used in the synthesis of agrochemicals, where its structural features contribute to the development of pesticides or herbicides. Its role in research and development is significant, particularly in the exploration of new chemical entities for medical and agricultural applications.