Used primarily as a chemical intermediate in organic synthesis, particularly in the preparation of pharmaceuticals and agrochemicals. Its structure allows for functionalization at multiple sites, making it valuable in constructing complex molecules. The cyclopropyl group can enhance metabolic stability in drug candidates, so derivatives of this compound are explored in medicinal chemistry for developing bioactive molecules. It may also serve as a building block in the synthesis of ketones, alcohols, and heterocyclic compounds through standard carbonyl reactions such as reductions, Grignard additions, and condensations.