There are two main ways to validate data based on a combination of criteria in Excel:

1. Using Custom Formula with AND/OR Logic:

* Steps:
1. Select the cell(s) where you want to apply data validation.
2. Go to the "Data" tab and click "Data Validation" in the "Data Tools" group.
3. In the "Settings" tab, under "Allow," choose "Custom."
4. In the "Formula" box, enter a formula that combines your criteria using the AND and OR logical operators. Here are some examples:
- Validate data to be between 10 and 20 (inclusive): `=AND(A1>=10, A1<=20)` (Replace A1 with your cell reference)
- Validate data to be either "Apple" or "Orange": `=OR(A1="Apple", A1="Orange")`
- Validate data to be a number greater than 5 and contain the text "product" (not case-sensitive): `=AND(A1>5, SEARCH("product",A1,1)>0)` (SEARCH function checks for text)
* Note: You can build complex formulas with multiple criteria using combinations of AND, OR, and other logical operators.

2. Using Nested Data Validation with Dropdown Lists:

* Steps:
1. Create separate dropdown lists for each individual criterion (e.g., list of numbers, list of text options).
2. Apply data validation to the target cell, setting "Allow" to "List" and referencing the first dropdown list.
3. In the first dropdown list cell, use a formula with the VLOOKUP function to reference a hidden table containing the combined criteria. The VLOOKUP formula should return a value (e.g., "Valid") only if all other criteria from hidden dropdown lists are met.
4. Apply conditional formatting to the target cell to highlight it red if the first dropdown list doesn't return "Valid."

Choosing the Right Method:

- For simple combinations of numerical or text criteria, a custom formula is more efficient.
- For complex validation involving multiple factors or dynamic criteria, nested data validation with dropdowns offers more flexibility.

Remember to adjust cell references and criteria within the formulas to match your specific needs.