Used primarily as an intermediate in organic synthesis, especially in the preparation of heterocyclic compounds and dyes. Its nitro groups make it suitable for reduction reactions to form amino derivatives, which can further participate in coupling reactions for dye and pigment manufacturing. Also employed in the development of photochromic materials due to its ability to undergo reversible transformations under light exposure. Additionally, it serves as a building block in the synthesis of pharmaceuticals and agrochemicals where conjugated diketone systems are required.