Relegation-threatened Crewe could have wilted after a Michael Jacobs' header gave the hosts a third-minute lead but they stuck to their task and it was only an injury-time strike from
Leigh Griffiths that finally sealed their fate.
Davis, a boyhood Wolves fan who was interviewed for the manager's job at Molineux this summer before Kenny Jackett was appointed, admitted that the finishing power of Wolves was the difference between the teams as his side suffered their first defeat in four games.
``We are disappointed with the result because we felt that we always had a chance,`` said Davies.
"We didn't get off to a good start but it didn't unsettle us. We settled down and stayed in the game at that early period which could have been different - but wasn't.
"We started to play mid-way through the first-half and we created some good opportunities.
"We have made enough chances to get something. In terms of opportunities it was quite equal. The difference was the ability to put the ball in the net and Griffiths came on and
secured the game.
"But we had a real go. Our football was good and there was not a lot in terms of the teams. I don't think you could tell who was top and who was bottom. It was just the quality of the finishing in the end.
"Whilst I am disappointed with the outcome, I was quite pleased with the performance.
"After that early goal we settled down and there were some really good things. But when you concede that early at a place like this it is very difficult to come back from that.
"We are playing better but we just need to start scoring goals. That will be the difference because we are keeping it more solid at the back.
"Now with the Colchester game coming up, if we can perform like that and take our chances then we will start picking up some points.
"It is all about margins but at the end of the day it all comes to the quality of the finishing."
Had things been different in the summer, Davis could have been in charge at Wolves but he insists that he has no regrets that he did not get the job.
He added: "That has gone now. It was flattering that you are attached to these sort of clubs. It is something that has come and gone.
"It was the choice of the directors. In the end it was probably more of a lack of experience than anything else, which I understood.
"You only get that experience by managing at higher levels so hopefully in time I will get there."
Jackett felt the margin of victory might have been more comfortable, although the Wolves boss was pleased to see his team keep a clean sheet.
"We had a lot of chances to put the game away and we didn't take them,`` said Jackett, whose side had taken only one point from their previous three Sky Bet League One matches.
"But there were some pleasing aspects. I was pleased to have created as many chances as we did, particularly in the second-half when we did work their goalkeeper.
"We always needed that second goal and it was a long time coming but when it did it sealed the win.
"And it was a good clean sheet because Crewe were everything that I expected.
"It was a big day for them and it was a situation where they could express themselves without not too much pressure on them.
"We had to work very hard and all the way through the second half I was looking for that second goal. I always felt that we needed it."
Second-placed Wolves now face a huge top-of-the-table table clash against leadres Leyton Orient at Molineux on Sunday.
Jackett added: "We are really looking forward to it.
"Leyton Orient have goals in their side, which is a major asset, and I am sure on Sunday the top two will produce a very good day and hopefully it will work well for us."
- Sports & Recreation
- Kenny Jackett
- Leigh Griffiths