Hi,
You may find a lot of information by going to www.ni.com/support and type the keyword 5b there.
I hope your magnetic proximity transducer generates some sort of signal (voltage or current) which you can easily connect to the analog input terminals of your 5B series block. So it would be nothing but just a voltage or current meaurement and the converting back to the actual physical value.
Sincerely,
Sastry V.
Applications Engineer
National Instruments