I encourage you to search NI's Developer Zone for "MATLAB" - there are numerous resources available, including some threads in these forums.
On Windows, LabVIEW offers the MATLAB script node. It works much like the LabVIEW Formula Node, except that you paste an m-script into the node. LabVIEW passes the script to MATLAB through MATLAB's ActiveX interface. MATLAB does the processing, and gives the results back to LabVIEW. You can then use the results in your VI.
Steven H.