Used as a key intermediate in the synthesis of anticoagulant rodenticides, particularly in the production of coumarin-based compounds like warfarin and related derivatives. It serves as a building block in organic synthesis due to its reactive lactone and ketone functionalities, enabling condensation and substitution reactions. Also finds use in the development of fluorescent probes and dyes owing to its inherent chromophoric properties. Additionally, it has been explored in agricultural chemicals for its potential role in plant growth regulation and as a precursor in the formulation of certain pesticides.