1) Decision Trees:

 Should be faster once trained (although both algorithms can train slowly depending on
exact algorithm and the amount/dimensionality of the data). This is because a decision
tree inherently "throws away" the input features that it doesn't find useful, whereas a
neural net will use them all unless you do some feature selection as a pre-processing
step.
 If it is important to understand what the model is doing, the trees are very
interpretable.
 Only model functions which are axis-parallel splits of the data, which may not be the
case.
 You probably want to be sure to prune the tree to avoid over-fitting.
 easy to follow natural flow.
 easy to program for computer systems with IF, THEN, ELSE statements.
 very useful as modeling techniques and provide visual representations of the data.
 simple to implement and interpret.
 suffer from the representation redundancy.
 For the simulation function, it takes no more than 1 second to complete a set of
training data with decision.
 the data flows from the root, branches out at an inner node depending on a single
condition corresponding to the node, and repeat the process until it reaches a leaf
node.
2) Neural Nets:

 Slower (both for training and classification), and less interpretable.

 If your data arrives in a stream, you can do incremental updates with stochastic
gradient descent (unlike decision trees, which use inherently batch-learning
algorithms).
 Can model more arbitrary functions (nonlinear interactions, etc.) and therefore might
be more accurate, provided there is enough training data. But it can be prone to over-
fitting as well.
 not so easy to understand from the visual representation.
 very difficult to create computer systems from them, and almost impossible to create
an explanation from the model.
 can handle binary data better than decision trees but cannot handle categorical values.
 does not suffer from the representation redundancy.
 For the simulation function, it takes several minutes to complete a set of training data
with neural networks.