Used primarily in organic synthesis, this compound serves as a key intermediate in the production of various pharmaceuticals and fine chemicals. It is particularly valuable in the development of compounds with potential biological activity, such as antiviral and anticancer agents. Additionally, it is employed in the synthesis of complex molecules for research and industrial applications, including the creation of specialized polymers and coatings. Its bromine and diol functional groups make it versatile for further chemical modifications, enabling the formation of diverse derivatives for targeted applications.