While this error can be caused by a software problem (specifically with Windows services) most of the time it's due to a USB conflict or a cheap extension cord.

Kinect Management Service

If the Kinect Management service was already running, this won't help fix your issue. You should move on to other steps.

USB hubs and extensions

If you have your Kinect connected via a USB hub or a USB extension cord, you should try to run it without, even if it means putting it in a non-ideal spot for tracking, as this is only for testing.

Extension cords and hubs can often have low-quality wiring which causes signal degradation and reduces the maximum bandwidth that the cable can support.

USB conflicts

See the E_NUI_NOTGENUINE page for instructions on fixing USB bandwidth and conflict issues.