Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and agrochemicals. Its structure is beneficial in creating complex molecules due to the presence of both a carboxylic acid group and a methyl-substituted cyclopentane ring. Additionally, it finds application in the development of fine chemicals and specialty materials, where its unique chemical properties can be leveraged to modify and enhance product characteristics. In research, it is often utilized to study reaction mechanisms and to develop new synthetic pathways.