The feasibility study is a preliminary analysis of the requirements. A feasibility study should be able to give a go or no-go or change the requirements into a more realistic/feasible scenario. At this stage mainly a good objective understanding of the problem is important.

A thorough analysis should include the following:

Clarification of the problem:

What is the true bottleneck or problem which is going to be improved (i.e. transferring/converting data from one platform to another);

Which user(-role)s are involved (i.e. by means of use-case-diagrams);

What are the most important requirements for success of any solution (i.e. speed or ease of use);

What will be the main functional components of the solution (the architecture without being platform specific or going into implementation details; a model of the problem);

Which parts of the problem will be most risky to deal with (i.e. security or performance);

Which future additions can be reasonably expected, for which the chosen solution must provide support or allow smooth integration at a later time;

Are there any good solutions on the market which can deal with (parts of) this problem? (may even include non-software solutions; i.e. a blackboard in a conference room);

A proposal, describing how to proceed; i.e. if multiple options are feasible, list them all with pros and cons.