This compound is widely used in the synthesis of fragrances and flavoring agents due to its pleasant aromatic properties. It serves as a key intermediate in the production of various esters and other derivatives that are essential in the cosmetics and food industries. Additionally, it plays a role in pharmaceutical research, particularly in the development of drug molecules where its structure can be modified to enhance biological activity. Its versatility also extends to organic synthesis, where it is utilized in the creation of complex organic compounds.