Used as an analytical reagent in the detection and determination of trace amounts of metals due to its ability to form colored complexes. Acts as a derivatizing agent in spectrophotometric and fluorometric methods for enhancing sensitivity. Employed in organic synthesis as an intermediate for pharmaceuticals and agrochemicals, particularly in reactions involving nitro group transformations. Its polar structure makes it useful in studies of solvent effects and reaction mechanisms. Also applied in the preparation of dyes and photoactive compounds.