Used in organic synthesis as a chiral building block for the preparation of complex natural products and pharmaceuticals. Its ring structure with a defined stereochemistry makes it valuable in asymmetric synthesis, particularly in reactions requiring stereoselective transformations. The hydroxyl group allows for functional group modifications, such as oxidation or esterification, while the double bond enables addition reactions like epoxidation or dihydroxylation. It is also employed in the development of catalysts and ligands for enantioselective processes.