3rd Party application posts regular/triggered updates to a redis database as a list.
Laravel application needs to periodically check in the redis and if there's data, further processing will be done. Can someone suggest the best way of doing this in laravel (5.7*).
I would recommend creating a command and using the task scheduler. Laravel already has included a way to connect your application to Redis.
You can find more information about the task scheduler in the Laravel documentation on task scheduling. Please note that you have to add the scheduler to your server's cronlist. Laravel also provides documentation about their Redis implementation.
Sidenote: As task scheduling can lead to certain instabilities, especially if your server has had some downtime and you have to check the database at a certain set time, I would recommend considering using a webhook to trigger Laravel checking the Redis-database. Using a multi-server environment also becomes a lot less painful this way.