You do not need MinGW to use the Microsoft compiler.
The error message you cite looks like you have set MinGW as your default compiler or as the compiler to be used in the project (or both). In that case, the IDE will try to run the GNU compiler rather than the MSVC one, and since that is not installed, it will of course not find it.
Make sure that
a) your MSVC compiler is installed correctly (I assume that is the case)
b) both under Compiler -> Compiler options as well as under your project options, it says "Microsoft Visual C++" under "selected compiler" on top
c) under Compiler -> Compiler options, the "Programs" tab lists the correct locations of your build tools - if it does not, try "auto-detect", if that still does not work, enter the location by hand
Then it should find the correct executables.
To preempt another pitfall with MSVC, please make sure you have the platform SDK downloaded, too, or else you won't be able to build Windows programs. The "normal" MSVC package that you download from the net does not contain that.