It sounds complicated. But the molecule behind the name is surprisingly simple: an eight-carbon chain with two -OH groups at one end. Chemists call it 1,2-octanediol. And it has an interesting talent for multitasking.
In a moisturizer or lotion, part of the molecule likes water while its carbon chain prefers oily surroundings. That helps explain why it can contribute to skin conditioning, texture, and moisturization. But there's another reason formulators like it.