Hi Athulya Panicker ,
First of all when we define a timer it take two parameter.
First is 'Action' : In action we must define what kind of work we want do when timer will run.
Second is 'Schedule' : In Schedule we define when timer will run .
So here I want to run timer daily at 8:00 am and export all student data into excel .
Then first I create a server action (ExportToExcel) .
in this server action create one output parameter (ExcelFile) data type (Binary Data).
in server action use "Record List To Excel " widget for export data into excel .
"Record List To Excel " widget return an output of Binary data type, then we assign this output into ExcelFile output variable.

Now, Timer will run daily 8:00 am and export all student data .
After this here I add one more thing that is , when timer export data into excel then i store this data into a new Entity ( ExcelData )
So ,when timer will run it export Data into excel and also save Excel data in newly created Entity with current Date.
and I also create one more listing screen where all excel data show according export data.
and a download button ,so when we click on download , we are able to download excel data by date.
Here is the video link , How to export excel and download it : https://www.youtube.com/watch?v=tFrD54mhgiM
if you are stuck anywhere please watch video also
I update your oml ,please check it.
THanks