Used primarily as a synthetic intermediate in the production of pharmaceuticals, particularly in the development of anti-inflammatory and analgesic agents. Its structural features make it suitable for modifying biological activity in drug candidates targeting central nervous system disorders. Also employed in the synthesis of agrochemicals due to its stability and reactivity in various coupling reactions. The compound's aromatic and alicyclic components allow for selective derivatization, supporting its use in medicinal chemistry research for optimizing lead compounds.