This compound is primarily utilized in organic synthesis as a key intermediate for the preparation of various pharmaceutical agents. Its hydrazine moiety makes it valuable in the development of hydrazone derivatives, which are often explored for their potential therapeutic properties, including antimicrobial, anticancer, and anti-inflammatory activities. Additionally, it can be employed in the synthesis of heterocyclic compounds, which are crucial in medicinal chemistry for designing drugs with enhanced biological activity. Its application extends to research laboratories where it is used to study reaction mechanisms and develop novel chemical entities.