Used primarily as a chemical intermediate in organic synthesis, this compound plays a key role in the preparation of heterocyclic compounds and pharmaceuticals. It serves as a building block in the synthesis of pyrazoles and other nitrogen-containing rings, which are common structures in agrochemicals and active pharmaceutical ingredients. Its active methylene group allows for easy functionalization, making it valuable in condensation reactions and the development of complex molecules. It is also employed in research settings for studying keto-enol tautomerism and reaction mechanisms.