Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its ester and ether functional groups allow for selective transformations, making it valuable in multi-step syntheses. Commonly employed in the development of chiral building blocks due to the presence of a stereogenic center. Useful in the manufacture of active pharmaceutical ingredients where controlled substitution and protection group strategies are required. Also applied in the synthesis of prodrugs and biologically active molecules that require specific ester moieties for optimal activity.