Used as an intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its structure allows for further functionalization, making it valuable in constructing complex molecules. Commonly employed in the development of active pharmaceutical ingredients (APIs) where cyclopentane derivatives are required. Also utilized in fragrance synthesis due to its ability to form cyclic ketone derivatives upon transformation. Suitable for reactions involving ester hydrolysis, reduction, or cyclization to form bioactive compounds.