Create an "olatdata" folder (e.g. in your Eclipse workspace), its path will be further referred into the userdata.dir parameter of the olat.properties file.
Duplicate the file olat.local.properties and rename it to olat.local.properties (properties are read by spring on startup). Customize the olat.local.properties file according to the diff below. Important are the sections "directories and server and ports". Notice: Even on windows you should use forward slashes "/" instead of windows style backward "\" slashes! Please adapt at least the following parameters:
base.dir=/usr/local/opt/olat/olat3
userdata.dir=/usr/local/opt/olat/olatdata
tomcat.home=/usr/local/opt/tomcat5
server.domainname=localhost
server.port=8080
adminemail=yourname@yourdomain.com
supportemail=yourname@yourdomain.com
smtp.host=smtp.yourdomain.com
db.pass=mypassword
brasato.debug=true
localization.cache=false
user.generateTestUsers=true
log.rootCategory = INFO, syslog, A1