This compound is primarily utilized in biochemical research as a synthetic analog of diacylglycerol (DAG), which plays a crucial role in cellular signaling pathways. It is often employed to study the activation of protein kinase C (PKC), an enzyme involved in various cellular processes such as proliferation, differentiation, and apoptosis. Researchers use it to mimic natural DAG in experiments to understand the mechanisms of signal transduction and lipid metabolism. Additionally, it serves as a precursor in the synthesis of more complex lipids and is used in the development of lipid-based drug delivery systems. Its application extends to studying membrane dynamics and lipid-protein interactions in model systems.