Used in organic synthesis as an intermediate for pharmaceuticals and fine chemicals. Commonly employed in the preparation of ketones and aromatic compounds through alkylation and condensation reactions. Also utilized in fragrance formulations due to its pleasant, ketonic odor profile. Serves as a building block in the synthesis of psychoactive substances and research chemicals, making it relevant in medicinal chemistry research. Additionally, functions as a solvent or reagent in laboratory-scale reactions involving Grignard reagents and reducing agents.