I looked up the error message and was directed to this Microsoft article which I followed to the letter.  Unfortunately, it did little but blow my existing email profiles out of the water.  After setting up a new profile, I still continue getting the error.

After a bit more searching I came across the fix on a personal blog site (sorry, I no longer have the link).  The fix is to start Outlook from the run box by typing:

outlook.exe /resetnavpane

I have no idea what causes this issue and still experience it from time to time.  Fortunately, this fix seems to repair it every time.