Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various heterocyclic compounds. It is particularly valuable in the synthesis of indoles and other nitrogen-containing structures, which are important in pharmaceutical research and drug development. Additionally, it finds application in the production of dyes and pigments, contributing to the coloration of textiles and other materials. Its role in chemical reactions often involves the formation of hydrazone derivatives, which are useful in analytical chemistry for the detection and quantification of carbonyl compounds.