TLC is a useful tool for reaction monitoring. For this, the plate normally contains a spot of starting material, a spot from the reaction mixture, and a co-spot (or cross-spot) containing both. The analysis will show if the starting material disappeared and if any new products appeared. This provides a quick and easy way to estimate how far a reaction has proceeded.  In one study, TLC has been applied in the screening of organic reactions. The researchers react an alcohol and a catalyst directly in the co-spot of a TLC plate before developing it. This provides quick and easy small-scale testing of different reagents. 
Compound characterization with TLC is also possible and is similar to reaction monitoring. However, rather than spotting with starting material and reaction mixture, it is with an unknown and a known compound. They may be the same compound if both spots have the same R and look the same under the chosen visualization method. However, co-elution complicates both reaction monitoring and characterization. This is because different compounds will move to the same spot on the plate. In such cases, different solvent mixtures may provide better separation.