Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals, particularly in the development of kinase inhibitors and other biologically active compounds. Its structure allows for selective functionalization, making it valuable in medicinal chemistry for building heterocyclic frameworks. Commonly employed in the preparation of dyes and fluorescent probes due to its ability to undergo coupling reactions and form stable derivatives. Also utilized in research settings for the design of novel pyrazole-based compounds with potential anti-inflammatory, antimicrobial, or anticancer properties.