Used primarily in organic synthesis as a versatile intermediate for the development of various heterocyclic compounds. It plays a significant role in the preparation of fluorescent dyes and markers due to its coumarin backbone, which is known for its photophysical properties. Additionally, it is employed in the synthesis of pharmaceutical agents, particularly in the creation of molecules with potential anticancer and antimicrobial activities. Its nitro and chloro functional groups make it a valuable building block for further chemical modifications, enabling the production of complex structures in medicinal chemistry research.