Used in the synthesis of fragrances and flavor compounds due to its ability to act as an intermediate in forming macrocyclic musks. Commonly employed in perfumery for creating long-lasting scent bases. Also utilized in organic synthesis for building complex molecules, particularly in pharmaceutical and agrochemical research where ketone and ester functionalities are required. Its structure allows for easy modification through reduction, condensation, or cyclization reactions, making it valuable in developing bioactive compounds.