Used as a key intermediate in the synthesis of pharmaceutical agents, particularly in the development of pyrazole-based drugs with anti-inflammatory and analgesic properties. Its hydroxyl group allows for easy functionalization, enabling the formation of esters, ethers, or conjugates to improve drug solubility or bioavailability. Also employed in the preparation of agrochemicals and biologically active molecules where the pyrazole scaffold plays a central role in target binding. Its structural features make it valuable in medicinal chemistry research for optimizing lead compounds.