Used as an intermediate in organic synthesis, particularly in the preparation of flavonoids and other polyphenolic compounds. It serves as a protected form of hydroxyacetophenone, allowing selective reactions at other sites in the molecule. Commonly employed in pharmaceutical and agrochemical research where controlled deprotection and coupling steps are required. Its benzyl-protected hydroxyl groups can be removed under mild hydrogenation conditions, making it valuable in multi-step synthesis of bioactive molecules.