In v248 it is one of the dinos you can use weapons on while mounted. It's decent speed and stamina will allow you to chase down and tranq creatures that you normally wouldn't be able to chase (ex kangaroo)
Are you a new Ark player? A Tipp for you. He is fast... faster than you. The best way is craft Bola and Bola the Parasaur. Knock out and feed it with Berries. Dont miss nacoberries... Good you tamed it! Craft a Parasaur saddle and ride it! Good luck.