Used as an intermediate in the synthesis of pharmaceuticals and agrochemicals. It participates in the formation of hydrazide derivatives, which are important in developing bioactive molecules. Commonly employed in the preparation of heterocyclic compounds due to its ability to undergo cyclization reactions. Also utilized in research for developing novel organic compounds with potential antimicrobial or antifungal properties. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for structure-activity relationship studies.