"versatile application" is correct and usable in written English. You could use it to refer to an application (software program) that has a wide range of features and abilities. For example, you could say, "This phone has a versatile application that can do a variety of tasks, from playing music to checking the weather."
Microsoft Virtual Server 2005 R2 is a very versatile application.
This simplifying assumption enables more versatile application of the ED design model with background processes.
This paper demonstrates the versatile application potential of SU8 photoepoxy for micromechanical components.
The versatile application potential of new hydrogel scaffolds was demonstrated in cell culture.
These results suggest that the newly designed aptamer conjugation platform offers great potential for the versatile application of aptamers as molecular imaging agents.
This information is useful for further design and improvement of (hybrid) materials for versatile application, from nanotechnology to biomedicine and engineering.
1,1-Diethoxyethane (DEE) is an important chemical with versatile applications.
He is also fond of the phrase "get along" and its apparently versatile applications.
Such properties enable them to find versatile applications such as the optical information storage and haptic sensor.
Tin oxide (SnO2) has versatile applications in a variety of areas.
Geraniol, a monoterpene alcohol, has versatile applications in the fragrance industry, pharmacy and agrochemistry.
Being a terminologist, I care about word choice. Ludwig simply helps me pick the best words for any translation. Five stars!
Maria Pia Montoro
Terminologist and Q/A Analyst @ Translation Centre for the Bodies of the European Union