sorry to hear about your ding. i had an interview that went really well and got a ding at a school that was my first choice. i found out that one of my coworkers from my previous job got in last year. i couldn't believe it. in every quantifiable measure, i would consider myself a stronger candidate... obviously i can't say for certain with the essays, but i was shocked and a bit angry.
anyway, my point is, the admissions process is a total crapshoot. who can really explain their "process". from our vantage, after getting over a few hurdles (minimum gpa, gmat), they might as well pick names out of a hat. and it's even more difficult for common backgrounds (asian/indian; IT/finance).
good luck