Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and dyes. It is particularly valuable in the synthesis of hydrazone derivatives, which are crucial in the development of active pharmaceutical ingredients. Additionally, it plays a role in the preparation of azo dyes, contributing to the vibrant colors in textiles and other materials. Its application extends to research laboratories where it is utilized in the study of chemical reactions and the development of new compounds with potential industrial or medicinal uses.