After plugging in the device, go to device manager (In run type "devmgmt.msc") In Device manager go to "Universal serial bus controllers" It should list the storage devices that you have connected to your PC. Right click and then click "Uninstall. Remove the USB drive and restart your system.
Try connecting the device again.
It is a good sign that the drive is shown in Device Manager, but is it in Disk Management and if it is, what is the current file format? Does the drive have a drive letter assigned? If it doesn't, assign one, using right click on the drive. You may need to initialize the drive, which will erase it. Do you have any valuable information in it?
When in Device Manager, uninstall the drive, reboot PC and let OS reinstall drivers. Any changes? Try using the device with another USB cable and on another PC.