This compound is primarily utilized in the synthesis of various pharmaceutical intermediates. Its structure, featuring both a hydroxyl group and an ester functional group, makes it a versatile building block in organic chemistry. It is often employed in the production of fine chemicals and active pharmaceutical ingredients (APIs), where it serves as a precursor for more complex molecules. Additionally, it finds application in the development of chiral compounds due to its cyclohexane ring, which can be used to induce stereoselectivity in synthetic pathways. In the fragrance and flavor industry, it may be used as a starting material for creating esters that contribute to specific aromatic profiles. Its stability and reactivity also make it suitable for research and development in medicinal chemistry, particularly in the design of drug candidates targeting various therapeutic areas.