Used in biochemical research to study enzyme mechanisms, particularly those involving prenyltransferases, which play a role in protein modification and signaling pathways. It serves as a substrate in the biosynthesis of isoprenoids, including sterols, carotenoids, and terpenes, making it valuable in metabolic pathway studies. Applied in the development of inhibitors for enzymes like farnesyltransferase, which are targeted in cancer therapy. Also utilized in the synthesis of complex natural products and in understanding the regulation of cholesterol biosynthesis. Its role in cell signaling and membrane protein anchoring makes it essential for studying cellular processes and potential therapeutic interventions.