This compound is primarily utilized in the field of medicinal chemistry as a key intermediate in the synthesis of various pharmacologically active molecules. Its structure is particularly valuable in the development of indazole-based derivatives, which are explored for their potential therapeutic properties. Researchers focus on its application in designing compounds with anti-inflammatory, anticancer, and antimicrobial activities. Additionally, it serves as a building block in organic synthesis, enabling the creation of complex molecules for drug discovery and development. Its nitro group also makes it a candidate for further chemical modifications, enhancing its utility in creating diverse bioactive compounds.