Used as an intermediate in organic synthesis, particularly in the production of fragrances and flavoring agents. It serves as a building block for ester derivatives that exhibit pleasant, long-lasting scents, making it valuable in perfumery. Also utilized in the formulation of plasticizers and specialty solvents due to its diol structure, which imparts flexibility and stability to polymers. Its moderate hydrophilicity and reactivity allow for use in cosmetic formulations as a moisturizing agent or carrier for active ingredients.