http://www.open-raman.org/quantifying-methanol-in-ethanol-us...
It can be used to detect and quantify methanol in ethanol. This is interesting because ethanol is (relatively) safe to drink, while methanol is metabolized to poisonous compounds when ingested. Methanol and ethanol look the same and have nearly identical densities. The odor and taste of methanol are distinguishable from ethanol only at high concentrations. Raman spectroscopy is one way to distinguish a dangerously adulterated alcoholic beverage from a safe one.
You do need to put a sample of the substance to be tested in the machine, though. You can't point the machine at a container in front of you and get a reading. Also, Raman spectroscopy is suitable for distinguishing many but not all substances. The Tricorder's capabilities for universal remote analysis are superior if fictional.