This card has a Quick-spell counterpart called Spellbook Organization, which is generally better since it can be activated on one turn or set and activated later. Unless you play with (or against a) deck in which using a trap card instead of a Quick-spell card is a key move, that other card is better.
This card can be used to ensure you guess correctly with cards like "Reversal Quiz" that have you guess the top card on your deck.
This card can be used with "Jar of Greed" or any other "Draw 1 card" effect so that you draw a desirable card.
Using this card with "Ma'at" will guarantee that you know what three cards to guess.
This card is extremely useful in a "Sylvan" Deck, as you can not only confirm whether "Shinra" monsters are imminent but you can also increase your guarantee that you'll be able to use 1 or more of their effects via a "Shinra" card on your Field when they're sent to the Graveyard.