From what I understand, the degree is more or less a structured way to become really versatile in RapidMiner. The relationship between the software development team and those teaching the degree is very close ( http://rapidminerresources.com/index.php?page=training / http://en.wikipedia.org/wiki/RapidMiner ). Therefore I suspect the core motivation for those choosing this degree is to reach a high level of proficiency in that particular software by studying with one of its developers, and earning on the way an MSc from a state university. It is a legitimate university, but don't expect any employer going wild about it.
Just as a disclaimer: I have not relationship with ITB or RapidMiner. A while ago I played around with the software because some of the tutorials are really interesting and very accessible for someone like me who lacks a deep statistical understanding(i.e. http://www.youtube.com/watch?v=OXIKydgGbYk).
This prospect makes me more interested. Learning theory is nice, but I'm interested in these topics primarily because I'm interested in the data and that requires proficiency in a good tool.
Just as a disclaimer: I have not relationship with ITB or RapidMiner. A while ago I played around with the software because some of the tutorials are really interesting and very accessible for someone like me who lacks a deep statistical understanding(i.e. http://www.youtube.com/watch?v=OXIKydgGbYk).