Used primarily as an intermediate in organic synthesis, this compound plays a key role in the preparation of pharmaceuticals and agrochemicals. Its structure allows for functionalization at multiple sites, making it valuable in building complex molecules. It is particularly useful in the synthesis of cyclic compounds through alkylation, condensation, and ring-closure reactions. Due to the presence of active methylene and ketone groups, it participates in Michael additions and enolate chemistry, enabling the formation of carbon-carbon bonds. It also finds use in the development of specialty chemicals such as fragrances and dyes, where cyclic diketone frameworks are required.