Labview has much advantages comparing to matlab1.programming is simple compared to Matlab ,even matlab programs and functions can be adopted to labview for programming when required.Graphical programming is the main highlight of labview ,is easier to develop and understand2. Data acquisition and control is also possible with labview .
MATLAB is a very powerful mathematical engine with wide range of toolboxes and other tools, e.g SIMULINK. It can be used for nearly everything "on system level" where as LABVIEW is a very powerful tool mainly used for testing and DAS "Data Acquisition systems" .LABview is more userfriendly since it uses grahical languages insted of using some programming languages like c,c++ etc. No prior understand about the language is required while working in LABview.
Our work can be done more fast and effectively in LABview.
LABview is better...
I will go with LabVIEW.You make use of everything that is available in MathLab ,in LabVIEW aswell.LabVIEW is more power full and got its own execution speed which any other can't give.Inorder to Use More complex mathematical function ,in LabVEW which is not supplying as part of LabVIEW, you can install MathScript which is another product developing and marketing by NationalInstruments