This chemical is primarily utilized in organic synthesis as an intermediate for the production of more complex molecules. Its structure, featuring both a hydroxyl group and an ester functionality, makes it a versatile building block in the preparation of pharmaceuticals, agrochemicals, and specialty chemicals. It is often employed in reactions where selective protection or modification of functional groups is required. Additionally, its cyclohexane ring provides a stable framework for further chemical transformations, making it valuable in the development of compounds with specific stereochemical properties.