Used primarily in organic synthesis, this compound serves as a key intermediate in the preparation of various heterocyclic compounds. It is particularly valuable in the development of pharmaceuticals, where it contributes to the synthesis of molecules with potential therapeutic properties. Additionally, it finds application in the creation of dyes and pigments, owing to its ability to form stable, colored complexes. Its role in research extends to the study of chemical reactions and mechanisms, providing insights into the behavior of nitro and hydrazide functional groups in diverse chemical environments.