Used primarily as an intermediate in organic synthesis, this compound plays a key role in the preparation of pharmaceuticals and agrochemicals due to its reactive aldehyde and ketone functional groups. Its structure allows for versatile transformations, including condensation and reduction reactions, making it valuable in building complex molecules. It is also employed in the synthesis of flavor and fragrance compounds, where its reactivity contributes to the formation of esters and other aroma-active substances. Additionally, it serves as a building block in the development of specialty polymers and functional materials.