The Reds boss changed his entire team as Millwall visited the City Ground, but saw them secure a third-round trip to Burnley with a 2-1 win over the Lions after extra-time.
Having made 11 changes against the Lions, Davies would not rule out making as many again when unbeaten, table-topping Forest travel to face Wigan in the Sky Bet Championship on Saturday.
"We will make changes again, we will freshen things up," he said.
"We will look to freshen things up again ahead of another tough match. Every game will be difficult, regardless of the opposition. We will select the best team possible for the game.
"It was a cup game and every cup game is tough. But we are in the next round and that is what matters.
"I said that it does not matter (that Forest now face Burnley), because we are in the next round. It will be a tough game, but we will do the best we can to put ourselves further forward in the competition.
"We had some good performances and some good goals. It was a good goal from (Matt) Derbyshire again, that is seven for him now, if you include pre-season games."
Forest owed a debt of thanks to goalkeeper Dorus de Vries, who made a string of saves.
Davies added: "He made good saves, but the game should have been done, even before the 90 minutes finished, because we had great chances, but we did not take our opportunities.
"There were good performances and we got into the next round, which is the most important thing."
Millwall boss Steve Lomas is still to win a league game since taking over from Kenny Jackett in the summer, but he was rightly encouraged by his side's performance.
Derbyshire looked to have secured a 1-0 win with a 58th-minute header for Forest before Andy Keogh popped up with a flicked finish of his own, four minutes from the end.
But Jamaal Lascelles headed home from a corner four minutes into extra-time to win it for the home side.
"I want the lads to believe they are good players, because they have shown that. But set plays are massive," said Lomas.
"Manchester United probably won the title last year because they are the strongest at set plays, when it comes to attacking them and defending set pieces - even with all the quality they have.
"We can't keep trumping up these individual errors. Hopefully we have had our seasons worth in the first five matches. But it is down to us to stamp this out.
"I believe in them. I am sure the fans who were here would be asking themselves how we have not won that game of football. If we do not cut out the mistakes, we will have a lot more days like this."