This compound is primarily utilized in the synthesis of complex organic molecules, particularly in the development of pharmaceuticals and bioactive compounds. Its structure, featuring a cyclopentene ring and a pentenyl side chain, makes it a valuable intermediate in the production of prostaglandins and other related compounds. These derivatives are often explored for their potential anti-inflammatory, analgesic, and cardiovascular effects. Additionally, its stereochemistry (1R,5S) is crucial in ensuring the biological activity of the final products, making it a key component in enantioselective synthesis. Researchers also investigate its use in creating novel materials with specific optical or chemical properties.