Used primarily in organic synthesis, this compound serves as a key reagent in the preparation of various heterocyclic compounds. It is particularly valuable in the synthesis of pyrazole derivatives, which are important in pharmaceutical research for developing drugs with anti-inflammatory, antimicrobial, and anticancer properties. Additionally, it acts as a building block in the creation of hydrazide-based molecules, which are utilized in the development of agrochemicals and dyes. Its role in forming hydrazone linkages also makes it useful in bioconjugation techniques for labeling and modifying biomolecules in biochemical studies.