Oracle WebLogic Server 12.2.1 (12cR2) is the biggest WebLogic Server product release in past so many years and with so many awesome new features such as Multitenancy, Continuous Availability, Developer Producivity and Portability to the cloud, and many more.
There are couple of weblogic installers available depending upon your requirement and if you are a newbie, it can get confusing. So I will try to list down main points that might help you in choosing the right installer.
a) Development Only: If you are a developer and just need a environment to develop, deploy and test your code then you can go for Quick Installer (fmw_126.96.36.199.0_wls_quick.jar).
b) There is one more option to above : supplemental quick installer (fmw_188.8.131.52.0_wls_supplemental_quick.jar).
The supplemental quick installer is a lightweight installer that contains all the necessary artifacts to develop and test sample Java applications on Oracle WebLogic Server. The optional supplemental quick installer has components such as the sample applications, and Administration Console additional language help files.
c) Production: If you want to install Weblogic server Standard Installation for production environment or production like environments, you need to choose Standard Oracle WebLogic Server and Coherence Distribution (fmw_184.108.40.206.0_wls_Disk1_1of1.zip). There is one important point to note here – with this installer , the awesome new feature of 12cR2 MultiTenancy (MT) wont be available. If you want that then checkout next option.
d) Production with MultiTenancy distribution: If you want to use Multitenancy feature you must use the Oracle Fusion Middleware Infrastructure distribution (fmw_220.127.116.11.0_infrastructure_Disk1_1of1.zip) instead of the WebLogic Server and Coherence distribution.
With this version of Oracle WebLogic Server and the quick installer JDK 1.8 version or above is mandatory.