I don't have much experience with database designing so I am not sure how to proceed.
Read an introductory database book!
Which database will be best to use? MSSQL, MySQL, NoSQL, etc.?
MySQL and Microsoft SQL Server are database management systems that follow the relational database paradigm. NoSQL is not a database management system, it is a paradigm that is contrasted with relational databases. Examples of NoSQL DBMSes include MongoDB, Redis etc.
Unless you know a handful about database optimizations, there is no strong reason to prefer MySQL, MSFT SQL Server, SQLite, kdb, Redis or any DBMS. You should use what you are comfortable with learning, have reasonable community support and documentation for, and meets your budget and operational requirements:
- Is it open source?
- Is it more suitable for a UNIX or Windows environment?
You should only start worrying about what DBMS you're using if you are making $10^3+ cost trade-off decisions, thinking about servicing >30 (exact number varies depending on your hardware) user requests, or are storing more data than would fit on desktop computer that is heavily spec'ed out, or are hitting the bandwidth limit either at the network, disk or memory layer, because there's very little difference between DBMSes until you start attacking these types of issues.
If you would like a specific answer, I would actually recommend something like MySQL. It's commonly used, there's a lot of reading materials available for free on how to use it, and it conforms to the SQL standard so you can extend your knowledge to other DBMSes once you've familiarized yourself with it. It's a bad idea to use a NoSQL DBMS with absolutely no knowledge of the relational paradigm, because NoSQL DBMSes trade-off certain functionality to meet specific needs that are difficult to service with a relational DBMS. However, if you don't know what a relational DBMS is, it's unlikely that you'll understand this trade-off.
People who first learn to use a DBMS often fall into the trap of thinking that the newest DBMS is the most modern and most powerful all-around - this is completely incorrect. Research into DBMSes is very mature, and even 20-30 year old DBMSes are heavily optimized and suitable for modern use cases. Many elements of the architecture of classical relational, row-oriented DBMSes are still reused in elements of NoSQL/column-oriented DBMS design. The modern DBMSes don't evolve out of a need to outperform older DBMSes, rather, they evolve out of a need to trade-off certain functionality to meet more domain-specific needs (e.g. Hadoop workload, data model flexibility, multi-data center resiliency). Then you also have a plethora of new DBMSes that don't do anything new but are really just created to help their founders pocket venture capital - again, you won't really know this until you are familiar with the basics of database management.
I think I will need the above mentioned columns and a column for the datetime stamp of the record. Am I on the right track?
No, you will need more than that. You should have constraints to ensure integrity of your data; indexes to speed up your queries; normalization to minimize the redundancy of your data, and so on. You have just identified columns that you will need in 1 table in your database.