We study the precise phase estimation using squeezed states with photonlosses present. Our exact quantum Fisher information calculation showssignificant quantum enhancement and thus reveals the benchmark for practicalquantum metrology in this noisy scenario. However, we find that the existingparity measurement scheme [P.M. Anisimov et al, Phys. Rev. Lett. 104, 103602(2010)] behaves worse than even classical cases given very small losses, unlesswe take an appropriate loss dependent phase shift. Using our formulae, the twooptimized aspects including the pre-detection phase shift and the consequentlight intensity of a tradeoff strategy for photon resource arrangement can beboth calculated. Therefore our result makes it possible to experimentallyrealize quantum metrology of phase estimation with squeezed states.
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