Used in organic synthesis, particularly as a building block for creating heterocyclic compounds. It serves as a key intermediate in the development of pharmaceuticals, especially for drugs targeting neurological disorders and cancer. Its hydrazine moiety makes it valuable for forming hydrazone derivatives, which are useful in medicinal chemistry. Additionally, it is employed in the synthesis of dyes and pigments due to its ability to form stable complexes with metals. In research, it is utilized to study reaction mechanisms and develop new chemical methodologies. Its versatility makes it a valuable tool in both industrial and academic settings.