Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of heterocyclic compounds, particularly in the development of pharmaceuticals and agrochemicals. Its hydrazide functionality allows it to participate in condensation reactions, forming hydrazones and Schiff bases, which are valuable in the design of biologically active molecules. It is also employed in coordination chemistry as a ligand for metal ions, aiding in the creation of metal-organic frameworks with potential catalytic or sensing properties. Additionally, derivatives of this compound have shown promise in antimicrobial and anticancer research due to their ability to interact with biological targets such as enzymes and DNA.