This chemical is widely used in organic synthesis as a versatile intermediate. It plays a key role in the production of fragrances and flavoring agents due to its ability to impart a pleasant, woody aroma. Additionally, it is employed in the synthesis of pharmaceuticals, particularly in the development of compounds with anti-inflammatory and antimicrobial properties. Its structure allows it to act as a building block in the creation of complex organic molecules, making it valuable in research and industrial chemistry.