Using CRM 2016 it is possible to create a field with data type "date and time", but it is not possible, and it is very usefully, to filter using date and time in the filter grid (it is possible to do it only with date). When you have a lot of data for the same day, for example in the Plug-in trace log, and you want to filter by a specific time range you cannot do it using crm 2016.