I graduated from IU and my daughter goes to UW Madison. So I have competing biases. I can’t comment on academics as I have no involvement with business. For Madison, the environment is more of a midwest-urban setting. IU for business is much more of a frat-business environment which I mean in mostly a negative way. Bloomington has changed dramatically over the last 20+ years and I think it is a bit full of itself. On the other hand, Madison has been full of itself for much longer! The weather in Bloomington is generally better with beautiful and prolonged autumn and a nice spring with blooming redbud and dogwood trees. The corresponding seasons in Madison are relatively brief and harsh. Winter in Madison promotes personal growth and is a bit unremarkable in Bloomington. I love IU but I think the school spirit at Madison is more. I don’t think you can go wrong with either choice. Good luck.