Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It plays a crucial role in the synthesis of heterocyclic compounds, which are often utilized in the development of drugs targeting specific diseases. Additionally, it is employed in the preparation of dyes and pigments, contributing to the coloration of materials in industries such as textiles and plastics. Its hydrazine moiety makes it valuable in reactions like the Fischer indole synthesis, facilitating the creation of complex organic molecules.