Used as a key intermediate in organic synthesis, particularly in the production of pharmaceuticals and fine chemicals. Its structure allows for functionalization at multiple sites, making it valuable in building complex molecules. Commonly employed in the synthesis of prostaglandins and other bioactive compounds due to its cyclopentanone core, which mimics natural cyclic frameworks. Also utilized in the development of fragrances and flavoring agents because of its ability to undergo condensation and esterification reactions that yield odor-active substances. Its keto and ester groups enable easy modification through reduction, alkylation, and nucleophilic addition, supporting its role in research and industrial applications.