Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and bioactive compounds. Its structure allows for functionalization at multiple sites, making it valuable in constructing complex cyclic molecules. Commonly employed in the development of anti-inflammatory agents and prostaglandin analogs due to its resemblance to cyclopentane core structures found in such drugs. Also utilized in the synthesis of agrochemicals and specialty polymers where cyclic ketone and carboxylic acid functionalities are required for further chemical transformations.