Used primarily as a key intermediate in the synthesis of pharmaceuticals and agrochemicals. It serves as a building block in the preparation of anticoagulant rodenticides, such as coumarin-based compounds, due to its ability to form cyclic structures upon condensation. Also employed in the production of dyes and fluorescent agents, where its keto-enol tautomerism enhances light absorption properties. Its reactivity in Michael addition and cyclization reactions makes it valuable in organic synthesis for constructing heterocyclic compounds.