This video shows how to use DEPLOYTOOL to create a project and compile it so that it can be used outside of MATLAB, meaning you can give it to someone that does not own MATLAB and they can still run it.
This is useful in a variety of situations, for example you might want to lock down a functioning GUI so that even as you upgrade MATLAB you will know that your GUI will not change, because it is a stand alone. You might want to obscure your algorithms from people you give your code to.
The demonstration is using an add on product called: MATLAB compiler
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