The unavoidable interaction between a quantum system and the external noisy environment can be mimicked by a sequence of stochastic measurements whose outcomes are neglected. Here we investigate how this stochasticity is reflected in the survival probability to find the system in a given Hilbert subspace at the end of the dynamical evolution. In particular, we analytically study the distinguishability of two different stochastic measurement sequences in terms of a new Fisher information measure depending on the variation of a function, instead of a finite set of parameters. We find a novel characterization of Zeno phenomena as the physical result of the random observation of the quantum system, linked to the sensitivity of the survival probability with respect to an arbitrary small perturbation of the measurement stochasticity. Finally, the implications on the Cramér-Rao bound are discussed, together with a numerical example. These results are expected to provide promising applications in quantum metrology towards future, more robust, noise-based quantum sensing devices.Introduction.-Interaction with an external environment lies at the heart of the dynamical characterization of an open quantum system. No quantum system, indeed, is completely isolated, and it is always characterized by a non-unitary evolution of its state [1,2]. Local coupling effects of the system with the outside can be described as projection events due to the action of one (or more) measurement operators [3], along the lines of formalism of the quantum jump trajectories [4] for open quantum systems. Moreover, as one may expect, these trajectories resulting by the dissipative action of the environment are intrinsically stochastic processes, since any interaction shall occur at irregular time intervals, in general without any a-priori predictability. In this context, it becomes important to investigate the distinguishability of quantum states [5,6] of a randomly perturbed quantum system when also the characterization of the stochasticity rate affecting the system is taken into account.