It is primarily used in the synthesis of various pharmaceutical compounds due to its hydrazide functional group, which makes it a valuable intermediate in creating drugs with potential therapeutic effects. The compound is often employed in the development of antimicrobial and anti-inflammatory agents, as its structure can be modified to enhance biological activity. Additionally, it serves as a key building block in the preparation of heterocyclic compounds, which are widely studied for their pharmacological properties. Its role in organic synthesis also extends to the creation of dyes and pigments, where it contributes to the formation of complex molecular structures.