This chemical is primarily used in organic synthesis as a versatile intermediate. It plays a key role in the production of fine chemicals and pharmaceuticals, particularly in the synthesis of complex cyclic compounds. Its structure, featuring both hydroxyl and ester functional groups, makes it valuable for constructing chiral molecules, which are essential in drug development. Additionally, it is employed in the preparation of flavor and fragrance compounds, contributing to the creation of unique aromatic profiles. Its stability and reactivity also make it useful in research and development for exploring new chemical pathways.