This compound is primarily used in biochemical research to study the structure and function of cell membranes. It serves as a model phospholipid to investigate lipid bilayer properties, membrane dynamics, and interactions with proteins or other biomolecules. Researchers utilize it to explore signaling pathways, particularly those involving lipid mediators like endocannabinoids, due to its arachidonoyl moiety. It is also employed in drug delivery studies to understand how lipid-based carriers interact with cellular membranes. Additionally, it is used in the development of lipidomics techniques to analyze and quantify lipid species in biological samples.