Dropping a whole database out just for this probably can't be called "intelligent", and the closest you can get using OnDemand is to export it daily (and then you're into painful scripts which will be hard to maintain on upgrades, or recreating entire system copies to do the compare in any useful way)
Assuming by "elements" you need fields, then you can do things like "field WAS X" to find them. Jira keeps a full history and there are number of ways of getting at it. But you'll need to thnk carefully about what you want and why.
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