The Reds are backed by ambitious owners who have already invested heavily in the playing staff at the City Ground.
Davies is the man charged with the task of turning that potential into points, with a return to the Premier League in the near future very much the target for all concerned on Trentside.
Forest are well positioned among the Championship frontrunners at present, but saw another two points slip through their grasp against Ipswich Town on Saturday as a result of their lack of firepower.
Davies believes his troops are close to being the finished article, but concedes that a certain attacking spark needs to be found.
He told the Evening Post: "We are creating a lot of chances, there is no doubt that we are creating a lot of chances. As I said, I am very pleased. There is that piece of the jigsaw puzzle that we will eventually get.
"I see the same players in training putting things away. At the moment, things are not going for them in front of goal.
"We will just keep working away, we will do what we do in training and we will keep encouraging them to get that last little piece."
Pressed on whether he will use the January transfer window to try and find that elusive 'piece', Davies added: "We have people who can score goals, we have people who can create goals. You can see that from our play.
"As I said before, I would be very concerned if we were not creating chances. I would be very concerned if we were sitting back.
"My only concern now is to get the boys back in (to training). We will keep working because, as I said, in terms of tactics, attitude, effort and set-plays, there is a lot to our game that is not too far away.
"We will just keep working on the day-to-day drills that we have to do with the strikers and with the wide players.
"The one thing I can say is that it is just that final piece of the jigsaw puzzle. We just need to get that right, then we will be okay."