This compound is primarily utilized in the field of organic synthesis, where it serves as a key intermediate in the production of various pharmaceuticals. Its structure, featuring a cyclopentane ring and a methoxyphenyl group, makes it a valuable building block for designing molecules with potential therapeutic effects. It is often employed in the development of anti-inflammatory and analgesic drugs, as the methoxy group can enhance bioavailability and metabolic stability. Additionally, its carboxylic acid functionality allows for further chemical modifications, enabling the creation of esters, amides, or other derivatives for targeted drug delivery systems. Researchers also explore its use in the synthesis of agrochemicals, particularly in developing compounds with herbicidal or pesticidal properties. Its versatility in chemical reactions makes it a significant compound in medicinal chemistry and material science research.