Used primarily as a flavoring agent in the food industry, it imparts a creamy, buttery aroma to various products. In the fragrance industry, it is incorporated into perfumes and cosmetics to add a warm, musky scent. Additionally, it serves as an intermediate in the synthesis of more complex organic compounds, particularly in the production of pharmaceuticals and agrochemicals. Its properties also make it suitable for use in research and development for studying chemical reactions and processes.