This chemical is primarily utilized in the synthesis of fragrances and flavoring agents due to its unique structural properties, which impart a fresh, woody, and slightly citrus-like aroma. It is often incorporated into perfumes, colognes, and scented household products to enhance their olfactory profiles. Additionally, it serves as an intermediate in the production of more complex organic compounds used in the pharmaceutical and agrochemical industries. Its stereochemistry and functional groups make it a valuable building block in asymmetric synthesis, particularly in the development of chiral molecules for medicinal applications.