Used primarily in pharmaceutical research, this compound serves as a key intermediate in the synthesis of various biologically active molecules. It is particularly valuable in the development of pyrazole-based drugs, which are explored for their potential therapeutic effects, including anti-inflammatory, anticancer, and antimicrobial properties. Additionally, it is utilized in the preparation of agrochemicals, contributing to the creation of novel pesticides and herbicides. Its role in organic synthesis also extends to the production of dyes and other specialty chemicals, where its structural framework is leveraged to achieve desired chemical properties.