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MATLAB - programming language and a numerical computing environment. It is great for linear algebra, implementation of mathematical algorithms, and plotting data. MATLAB is widely used in scientific communities for data processing, analysis, and visualization.
Advantages
Provides a great integrated programming environment with nice built-in tools: smart code editor, debugging tools, plotting tools, variable inspector
Includes many high-quality libraries for scientific computing: Signal Processing, Statistics, Optimization, Data Acquisition, Image Processing, etc
Doesn't require any setup or tuning
Good for rapid prototyping
Disadvantages
Expensive - a basic student version is $99. However, most schools have MATLAB licenses and can provide them to students for free
Is not used outside academia and for purposes other than numerical computing
Not optimal for large collaborative coding projects
Not good for implementing graphical user interfaces