One possible solution is:
Add a DATE field that represents the last update time to MY_TABLE table.
ALTER TABLE my_table ADD (last_update_time DATE);
Create an index on that field.
CREATE INDEX i_my_table_upd_time ON my_table (last_update_time);
Create a database trigger on that table that fires ON UPDATE and ON INSERT and stores SYSDATE into the new field.
CREATE OR REPLACE TRIGGER my_table_insert_trg
BEFORE INSERT OR UPDATE
ON my_table
FOR EACH ROW
BEGIN
:new.last_update_time := SYSDATE;
END;
Now you can issue the following query every 5 minutes
SELECT max(last_update_time) FROM my_table;
and it will give you the time when your table was last updated.
There is no easy way to get a notification from Oracle, sorry.