Issue Details

I am uncertain about the difference between LabVIEW Run-Time and Real-Time. Which one am I supposed to use for what? Do I need both of them installed?

Solution

LabVIEW Run-Time (for running stand-alone executables)

The LabVIEW Run-Time Engine must be installed on any system where you plan to run compiled code such as stand-alone executables or shared libraries built with the LabVIEW Application Builder. The major version of the LabVIEW Run-Time Engine must match the major version of the LabVIEW Development Environment that was used to create the executable. 
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LabVIEW Real-Time (for working with real-time targets)

The LabVIEW Real-Time Module is an add-on component for the LabVIEW development system that you can use to create and debug applications that run on stand-alone embedded hardware targets. With the LabVIEW Real-Time Module, you can develop applications for all NI real-time hardware targets including CompactRIO, stand-alone CompactDAQ, PXI controllers, NI compact vision systems, and standard desktop PCs. The LabVIEW Real-Time Module works with NI hardware running either the Phar Lap ETS, VxWorks, or NI Linux Real-Time OS.

Additional Information

• The LabVIEW Runtime Engine install is included with LabVIEW Development system installations but can also be installed on its own on deployment machine where development is not needed. Whereas, the LabVIEW Real-Time Module install is not associated with the LabVIEW Development System download.
• When planning to use the Run-Time Engine to run executables, check the LabVIEW and LabVIEW Run-Time Engine Compatibility to ensure you install a compatible version.