Used as a key intermediate in the synthesis of pharmaceuticals and agrochemicals due to its reactive keto-ester functionality. Its structure allows for easy modification through reactions such as alkylation, reduction, and condensation, making it valuable in building complex organic molecules. Commonly employed in the preparation of heterocyclic compounds and flavor & fragrance agents, where it contributes fruity, creamy notes to aroma formulations. Also utilized in research settings for studying enolate chemistry and asymmetric synthesis.