Used primarily in organic synthesis, it serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its hydrazine moiety makes it valuable for constructing heterocyclic compounds, which are often found in drugs targeting diseases like cancer, inflammation, and infections. Additionally, it is employed in the development of dyes and pigments due to its ability to form stable, colored complexes. In research, it is utilized for studying reaction mechanisms and designing novel chemical entities with potential therapeutic applications.