Used as a key intermediate in the synthesis of high-value aroma compounds and flavorants, particularly in the production of natural-like fragrances. It contributes to the development of floral and fruity scent profiles in perfumery. Also employed in the preparation of vitamin A analogs and carotenoid derivatives due to its structural similarity to biologically active isoprenoids. Its chiral diol functionality makes it valuable in asymmetric synthesis for pharmaceuticals and fine chemicals.