Microsoft Word cannot open due to error 712.

I was working on Microsoft Word 2013 when suddenly it crashed. I tried to open it and an error appeared as follows, "Error 712 – The application Microsoft Word can't be opened". I have a MacBook Pro and I cannot figure out how to fix this. All other Office softwares work fine. How can I relaunch Microsoft Word and remove this error? Do I need to reinstall the Office all over again? Also will my data be available on the clipboard when Word 2013 starts again?
