Used primarily as an intermediate in organic synthesis, especially in the pharmaceutical industry. It serves as a building block for constructing complex molecules due to the presence of both a protected hydroxyl group and a reactive ketone functionality. The compound is valuable in the preparation of bioactive compounds, including potential drug candidates, where the benzyl group can be easily removed under mild conditions to reveal a hydroxyl group for further modification. Its cyclic structure and functional group arrangement make it suitable for use in ring-forming reactions and stereoselective synthesis.