This compound is primarily utilized in organic synthesis as an intermediate for the production of various chemicals, including fragrances and flavors. Its structure makes it suitable for creating complex molecules used in the perfume industry, where it contributes to unique scent profiles. Additionally, it serves as a building block in the synthesis of pharmaceuticals, particularly in the development of compounds with specific stereochemical properties. In research, it is employed as a model substrate to study chemical reactions, such as hydrogenation and oxidation processes, due to its stable and well-defined cyclic structure.