Used as a key intermediate in the synthesis of pharmaceuticals, particularly in the development of pyrazole-based bioactive compounds. Its structure allows for functionalization at multiple sites, making it valuable in medicinal chemistry for creating inhibitors and receptor modulators. Commonly employed in the preparation of antidiabetic, anti-inflammatory, and antimicrobial agents. Also utilized in agrochemical research for designing novel pesticides and herbicides due to its favorable reactivity and stability in various reaction conditions.