How is a nonce calculated and used in bitcoin mining?

Could you elaborate on the process of nonce calculation and its utilization in Bitcoin mining? I'm curious to understand the technical aspects behind it. In Bitcoin mining, does the nonce play a crucial role in generating a valid block hash? If so, how is it adjusted during the mining process to meet the network's difficulty target? Furthermore, does the nonce have any other applications or implications in the Bitcoin ecosystem beyond mining? I'd appreciate a concise yet comprehensive explanation of its importance and functionality in the mining process.