Used as a substrate in enzymatic assays, particularly for detecting esterase and cholinesterase activity in biological samples. It is also employed in histochemistry to identify enzyme distribution in tissues through colorimetric reactions, where enzyme hydrolysis releases 1-naphthol, which then couples with diazonium salts to form visible dyes. Additionally, it serves as an intermediate in the synthesis of dyes, pharmaceuticals, and agrochemicals. Its stability and reactivity make it useful in analytical chemistry for qualitative and quantitative analysis of enzyme function and inhibition studies.