If you use Windows 7, apparently you need to install an update to get the dev tool to work, I found this out after looking around a bunch online:
For 32 bit system: https://www.microsoft.com/en-us/download/confirmation.aspx?id=45134
For 64 bit system: https://www.microsoft.com/en-us/download/confirmation.aspx?id=45154
This is what finally fixed it for me. If you use Windows 10, see @guest-helper’s answer below.