Used as a key intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and fine chemicals. Its symmetrical diol structure allows for selective transformations, such as ring-forming reactions or protection/deprotection strategies in multi-step syntheses. Commonly employed in the development of ligands for asymmetric catalysis, contributing to the production of chiral molecules. Also utilized in the synthesis of dyes and fluorescent compounds due to its aromatic content and ability to undergo dehydration to form stilbene derivatives. Its reactivity makes it valuable in academic and industrial research for building complex molecular architectures.