Used as an intermediate in organic synthesis, particularly in the production of heterocyclic compounds and pharmaceuticals. Its bifunctional nature—containing both aldehyde and alcohol groups—makes it valuable in cyclization reactions to form five- and six-membered rings. It is also employed in the synthesis of certain biodegradable polymers and specialty solvents. Additionally, it serves as a building block in the preparation of flavor and fragrance compounds due to its ability to form esters and acetals.