I am using list validation and I want to use an IF statement where is changes the value of a field. Say IF([column 1] >2, column2 = 'hello' If true, column3 = 'no' if false) Is this possible using list validation?
I think list validation is only to prevent users insert wrong values.
To achieve this, I would advise you to use a workflow that checks the column values and set the values you want.
Another solution is to use an event receiver and let this set a value (based on the conditions you want) when an new item is added. This can be put for example in the ItemAdded event receiver.