u/_MadSuburbanDad_ hit the nail on the head about it usage for smoking. I will add a few other uses that are not traditional western cooking.

Asian bouncy style meatballs - Grind the meat in a food processor with a little tapioca powder, water, salt, garlic, and pepper for chewy/bouncy asian style meatballs. I wrote a more detailed write up once here.

Rendang - I prefer to use chuck for it, but the traditional recipe is with round. It is large cubed beef slow open simmered in spiced coconut milk for about 3 hours. At that point the beef will be tender and the coconut milk will break between coconut sugars and oil. The moister will have reduced enough that the coconut solids and beef will fry in the coconut oil. I wrote a more detailed write up once here.