Used as a fluorescent probe in biochemical and analytical applications due to its emission properties upon hydrolysis. The compound is particularly useful in enzyme activity assays, where esterases or lipases cleave the acetate group, releasing the fluorescent 7-hydroxynaphthalene derivative. This reaction allows real-time monitoring of enzyme kinetics in vitro and in cellular systems. Also employed in environmental studies to assess microbial activity in soil and water samples. Its stability and distinct fluorescence signal make it suitable for high-throughput screening in drug discovery and diagnostic applications.