Used primarily as a reagent in organic synthesis, this compound is valuable for the preparation of various heterocyclic compounds. It is particularly effective in the synthesis of azo dyes, which are widely applied in textile, paper, and leather industries for coloring purposes. Additionally, it serves as an intermediate in the production of pharmaceuticals, where it aids in the development of active pharmaceutical ingredients (APIs). Its role in analytical chemistry is also notable, as it is utilized in the detection and quantification of specific chemical species. Furthermore, it finds application in research laboratories for studying reaction mechanisms and developing new chemical processes.