Which of the following is an external source of data?

An external source of data is one that originates outside of an organization and provides insights or information that the organization does not internally collect or maintain. Industry associations are indeed an external source as they compile data and insights from various organizations within a specific sector and share this information to benefit their members. This data can encompass trends, benchmarks, and statistics that companies can use for comparative analysis and strategic decision-making.

In contrast, sales records and customer feedback reports are internal sources of data, as they come directly from an organization's operations and interactions with customers. Market research reports can sometimes be external; however, they may also be generated internally, depending on the context. Hence, industry associations stand out as a definitive external source that can provide a broader perspective on market dynamics.