ODI Installation Issue :

You Can Install any number of ODI version in your System:
Example you can install below two version in your machine.
ODI 11G Version(11.1.1.5)   and
ODI 11G Version(11.1.1.6)

The other ODI version will come under   Start-->All Program-->Oracle-->Oracle Data Integrator(2)-->ODI

Issue 1:
I'm running Windows 7 64-bit and have a 64-bit installation of JDK 1.6 installed. I installed the generic version of ODI Studio 11g (11.1.1.5) (the 32-bit version will not install on Windows 64-bit).

After the installation and launching ODI Studio, I received the following error:

Unable to launch the Java Virtual Machine Located at path:
c:\Progra~1\Java\jdk1.6.0_26\jre\bin\server\jvm.dll

Solution -1:

1. Download and install the 32-bit version of JDK 1.6 (not the 64-bit version!):

http://download.oracle.com/otn-pub/java/jdk/6u31-b05/jdk-6u31-windows-i586.exe

2. Edit the odi.conf file which is located here:

C:\Oracle\[your_install_directory]\oracledi\client\odi\bin\odi.conf

3. Locate and make the following change:

OLD (which is pointing to the 64-bit JDK):
SetJavaHome C:\Program Files (x86)\Java\jdk1.6.0_26

NEW (change it to point to the 32-bit JDK):
SetJavaHome C:\Program Files (x86)\Java\jdk1.6.0_31

4. Launce ODI Studio 11g again 

Solution 2:

1.Install jdk1.7.0 in C:\Java\jdk1.7.0   drive then change the below path                                    C:\Oracle\[your_install_directory]\oracledi\client\odi\bin\odi.conf           Change in SetJavaHome c:/Java/jdk1.7.0