Used as a chiral building block in the synthesis of pharmaceuticals and fine chemicals. Its asymmetric structure makes it valuable in producing enantiomerically pure compounds, particularly in the development of active pharmaceutical ingredients where stereochemistry influences biological activity. Commonly employed in fragrance synthesis due to its cyclic ketone structure, contributing to the creation of complex scent molecules in perfumery. Also utilized in academic and industrial research for studying stereoselective reactions and catalyst development.