Used as a selective reagent in analytical chemistry for the determination of cobalt(III) and iron(II) ions in solution. It forms stable, colored complexes with these metal ions, allowing for sensitive detection and quantification through spectrophotometric methods. The compound is particularly effective in distinguishing Co(III) in the presence of other transition metals due to its high selectivity and distinct color change upon complexation. It is commonly applied in environmental testing, metallurgical analysis, and quality control processes where accurate measurement of trace metal concentrations is required.