component.setTimer{ } is used to set a component or function poll time
By default, it sets time (delay in milliseconds) for the main function, unless the callback parameter is specified with another function.
local TimerId = component.setTimer{delay=1000, callback=OnTimer, data="Some Data"}
function OnTimer(Data)
-- This function will be called when the timer is triggered
trace(Data) -- "Some Data"
end