This might be a stupid question but, I keep hearing Microsoft Dynamics referred to as online or O365 are these not the same thing?
Microsoft Dynamics CRM Online 2016 isn't this by definition an O365 instance ?
when ever I look at documentation for updates I also see something like the below.
"Applies To
Dynamics 365 (online)
Dynamics 365 (on-premises)
Dynamics CRM Online
Dynamics CRM 2016"
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Dynamics CRM Online goes up to 2016 update 1, and from then on it's a new application called Dynamics 365.
If you take a look at this community post, it should make things clearer!
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