Used in the fragrance industry for its sweet, floral, and slightly fruity aroma, this compound serves as a key intermediate in the synthesis of perfumes and flavoring agents. Its olfactory properties make it valuable in creating complex scent profiles for cosmetics, soaps, and fine fragrances. Additionally, it is employed in the development of pharmaceuticals as a building block for more complex organic molecules, particularly in the design of bioactive compounds. Its structural features allow for easy modification, making it useful in research and development of new aromatic chemicals.