Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. It is particularly valuable in the development of pyrazole derivatives, which exhibit a range of biological activities. Its structure allows for modifications that can lead to compounds with potential anti-inflammatory, analgesic, and antimicrobial properties. Additionally, it is employed in research to explore new chemical entities for therapeutic applications, contributing to advancements in drug discovery and development.