I didn’t apply personally, but I have a friend who’s a direct admit, and I am just amazed at where the school stands in terms of business (based on rankings).
Kelley has lots of rich alumni that donate a lot of money. They just finished major renovations on the building and are also recognized for having an innovative curriculum. Kelley claims that they do not try to copy other successful schools, but instead determine curriculum partially based on what employers tell them.
I guess that stuff also helps for recruiting professors, and most of the professors previously worked for companies in similar roles to what they teach.