Used as a chiral building block in organic synthesis, particularly in the development of complex natural products and pharmaceuticals. Its strained cyclic structure and hydroxyl group allow for selective functionalization, making it valuable in asymmetric synthesis. The compound serves as an intermediate in the preparation of bioactive molecules, including prostaglandin analogs and other medicinally relevant cyclic compounds. Its stereochemistry enables high enantioselectivity in catalytic reactions, useful in fine chemical and drug manufacturing.