So that you are assured of installing the most current version of software possible. The CD that ships with the ColorMunki package contains a link to download the software from the X-Rite website. You will need a high speed internet connection to do this.
Insert the CD into your CD drive
Click the Install button at the first screen

Check the box in front of "I allow X-Rite to the internet and download the latest version."

Click on the "Save" Button - do not click open

Allow the software to download to your computer - depending on the speed of your computer this may take just a little while
When you see the following message indicating that the download is complete, click the "Open" button

Double click the ColorMunki Photo.exe file

Select a language from the dropdown list and click the "OK" button

Click the "Next" button at the Setup Wizard screen

Read the software agreement, and click the button in front of "I accept the agreement"
Click the "Next" button

To select the default location (recommended) click the "Next" button
Should you wish to install the software in a different location, click the browse button to navigate to that location, then click the "Next" button

To select the default location for the program shortcut (recommended) click the "Next" button
Should you wish to place the shortcut in a different location, click the browse button to navigate to that location, then click the "Next" button

To complete the installation, click the "Install" button - this may take just a bit of time

After the installation is complete, you will be prompted to restart your computer