Z-transforms can be used to analyze systems described by difference equations. The Z-transform relates the terms of a discrete-time sequence to a complex function of a complex variable z. Some key applications of Z-transforms include analyzing Fibonacci series, Newton's interpolation formula, and compound interest problems. Important results for Z-transforms include theorems regarding shifting, constants, initial values, final values, and convolution. Z-transforms are also connected to other transforms like the Fourier transform and Laplace transform through relationships like the discrete-time Fourier transform and bilinear transform.