Used in the fragrance industry as a flavor and aroma compound, particularly in perfumery for its sweet, floral, and slightly balsamic notes. It serves as an intermediate in organic synthesis, especially in the development of pharmaceuticals and fine chemicals. Its structural properties make it suitable for modifying ester-based compounds to enhance stability and olfactory characteristics. Also employed in research settings for derivatization reactions and as a building block in the preparation of more complex aromatic molecules.