Not quite. Like Simulink, it's a general computing platform. It is often used to process real-time measurements (for custom laboratory instrumentation), to cons

Not quite. Like Simulink, it's a general computing platform. It is often used to process real-time measurements (for custom laboratory instrumentation), to construct industrial automation system; but you can also build rich GUI applications and business logic with it. It's easy to program in, but a mess to debug and reason with (same can be said for other visual languages). Great for code-and-forget prototypes and for smaller throwaway projects, as a replacement for scripting languages.