Used as a key intermediate in organic synthesis, particularly in the preparation of cyclopentanoid compounds and natural products with biological activity. It serves as a building block in the synthesis of prostaglandins, which are hormone-like substances involved in inflammation, blood flow, and reproduction. Its reactive enone and hydroxyl functional groups allow for diverse chemical modifications, making it valuable in pharmaceutical research and development. Also employed in the creation of fragrances and flavoring agents due to its ability to form complex cyclic structures.