Used primarily in the synthesis of pharmaceuticals and agrochemicals, this compound serves as a key intermediate. It is also employed directly in the production of fragrances and flavors due to its fruity aroma and unique chemical structure, which contributes to the development of specific aromatic profiles. Additionally, it finds application in organic synthesis, where it acts as a building block for more complex molecules. Its role in research and development is significant, particularly in creating compounds with potential therapeutic properties.