Is there any possible way to get advanced auditing options in crm dynamics (third party tool, querying database filteredviews)
I want to know Number of user connected, duration of connection for each user, time passed in each form, reports executed(by who).
You have asked for 2 different things.
Auditing:
CRM OOB auditing data stored in on-premise SQL is "," and "~" separated, so have to do reverse engineering & some Power BI chart will visualize nicely on top of the data. We did that by referring below link.
https://marcuscrast.wordpress.com/2012/01/14/dynamics-crm-2011-audit-report-in-ssrs/
Telemetry:
Custom solution using application insights can be collected, including your own metrics like explained in my blog post below.
https://learn.microsoft.com/en-us/azure/application-insights/app-insights-sample-mscrm
On a side note, CRM 2016 has a preview feature of Organization Insights which will cover few of your asks. Refer the link below.
https://technet.microsoft.com/en-us/library/mt703628.aspx