Used as an intermediate in the synthesis of fragrances and flavor compounds due to its ability to undergo various chemical transformations, such as oxidation and esterification. Commonly employed in the production of macrocyclic musk compounds, which are valued in perfumery for their long-lasting scent and stability. Also utilized in the development of specialty polymers and surface modifiers, where its terminal double bond and hydroxyl group allow for functionalization and integration into larger molecular structures. Its reactivity makes it suitable for use in organic synthesis, particularly in creating bioactive molecules and fine chemicals.