Where is the link to the datasheet?
From those spec's it sounds like a bare transducer - that won't do anything very useful.
For ultrasonic ranging you need to fire a high power pulse of 40kHz (at perhaps 30 to 50V using a tuned step-up transformer) through the transducer to create a "ping". You then disconnect the drive electronics and attach a sensitive analog amplifier to listen for the returning echoes. The delay from send to receive gives the distance.
So unless the device comes with a transmitter and receiver electronics it isn't going to do what you think I'm afraid.