I have a column with time data like this:
17:27:31
17:27:32
17:27:32
17:27:33
17:27:33
17:27:34
17:27:34
17:27:34
17:27:35
17:27:36
I want
I second Dave's idea. I'm not always fond of pivot tables, but in this case they are pretty straightforward to use.
Here are my results:

It was so simple to create it that I have even recorded a macro in case you need to do this with VBA:
Sub Macro2()
'
' Macro2 Macro
'
'
Range("Table1[[#All],[DATA]]").Select
ActiveWorkbook.PivotCaches.Create(SourceType:=xlDatabase, SourceData:= _
"Table1", Version:=xlPivotTableVersion14).CreatePivotTable TableDestination _
:="Sheet3!R3C7", TableName:="PivotTable4", DefaultVersion:= _
xlPivotTableVersion14
Sheets("Sheet3").Select
Cells(3, 7).Select
With ActiveSheet.PivotTables("PivotTable4").PivotFields("DATA")
.Orientation = xlRowField
.Position = 1
End With
ActiveSheet.PivotTables("PivotTable4").AddDataField ActiveSheet.PivotTables( _
"PivotTable4").PivotFields("DATA"), "Count of DATA", xlCount
End Sub