First off have you looked at the execution of the program to see which
vi is producing the error. My first concern is that you have not
correctly established a connection to the database and the table in
question. So always check to see that the "Open Connection" vi is not
producing an error.
That being said it looks to me that you are using the "Create ParameterizedSQL" incorrectly. In your parameterized
query there should be question marks as place holders for parameters
that will be set at some later point. I tend to construct my own SQL queries and not use that parameterizedvi's. Take a look at the "Insert Example.vi" that comes with the connectivity toolkit. It is a example of how to insert the same data using multiple methods, including the standard build you own SQL query (which I recommend you do) and the parameterized method (which is the method you are attempting).
From what I can see from the screen capture, you are using the Parameterized Query VIs but with a query that doesn't contain parameters. You can reduce your diagram to just the Open, Execute Query, Free the reference, and Close VIs. Both the Execute Query and Parameterized Query VIs are described in Ch 5 of the User Manual.