Used as a catalyst precursor in organic synthesis and polymerization reactions. Employed in the preparation of cobalt-based materials for battery electrodes, especially in lithium-ion battery research. Serves as a starting material for producing cobalt oxide powders used in ceramics and pigments. Also utilized in electroplating processes and as a dopant in the synthesis of certain functional glasses and catalysts. Its thermal decomposition yields cobalt metal or oxides, making it valuable in controlled synthesis of nanomaterials.