This is an old thread, but I found it because I had the same question.
It is possible to see the exact amount of time each student took when you grade their quiz, so this can provide useful information about where individual students fell with respect to the average test time. The information in the classic quizzes is at the top of each student's individual quiz when you are in speed grader.
Still struggling with how tight to make time in an online class, though, as in an absence of reliable proctoring (I gave up on proctorio, as it was too buggy and every test devolved into my being tech support), students who try to look every answer up or take time to consult with other test takers are more likely to go over time, which is what I intend.
One concern I have, though, is whether students who are English learners, for instance, are consistently over time when compared to other students in a class. In an online class it can be harder to know who these students are as well.
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