What are the differences between Raspbian Jessie and Raspbian Jessie Lite?
What's better for a Owncloud server: Raspbian Jessie or Raspbian Jessie Lite?
If I understand this and that right, the lite distribution is just a Minimal image based on Debian Jessie without the X-server and its components installed. Meaning it uses less space on the SD-card and can run from a smaller SD card. Installing the minimal image will also reduce traffic during updates (as pointed out by Jacob). Any desired package can still be installed by
Technically, Jessie Lite should suffice to run an ownCloud server.
The MagPi, Issue 56, put it this way:
Lite is a minimal version of the Raspbian image for the Raspberry Pi. This means it has less software installed on it, and fewer modules will load with the kernel, which results in the operating system using a lot less of the Raspberry Pi’s resources. It will use less electricity this way and perform a little faster for very specific tasks, such as file servers or other uses where it never needs to use a monitor.