What computer operating system is involved?
In November 2013 I got that same error message about "configuration data for this product is corrupt". My recollection is that it was at an install for Premiere Elements 12 on Windows 7 Professional SP 64. I tried everything imaginable to fix the problem. Adobe tried to help, but no solution at the end of all the troubleshooting ideas.
The resolution came about when I contacted a professional computer shop. The owner ran a software called "Tweaking.com-Windows Repair (All in one)" and identified the problem as a registry problem. He repaired the registry, and Premiere Elements 12 worked again and still does. I took notes at the time. I will see if I can find them. Although there was a fix for this, I never knew what caused the problem in the first place. If you do not have experience editing the registry, best take the computer to a computer shop if all the usual troubleshooting ideas dd not give resolution.
Have you gone through the usual
Free ccleaner run through (regular and registry cleaner parts) - for this you do not have to be a registry expert
Reinstall with antivirus and firewalls disabled.
Please review and consider and the we can discuss this further.
Add On...still looking for any notes on my issue...definitely my issue was an issue specific to my Premiere Elements 12...I have many Premiere Elements versions on this same computer and none of them was afflicted with this issue.