Davies saw his team go behind to a Sam Vokes penalty before equalising with a Simon Cox goal just before half time and said after the game: "I'm sure everyone who watched the game would agree that we were totally dominant.
"We played fantastic football, were tactically excellent and nullified the league leaders. The whole team performance was superb and I really am delighted. I thought it was a travesty that we didn't take all three points and I'm sure Burnley will be relieved to get out of here with a draw."
He added: "Jack Hobbs hasn't trained all week after picking up a virus. I asked him to go out there and give us what he had and I thought he was exceptional. Jamaal Lascelles was excellent today and played with a lot of confidence.
"To do what we've done today without Collins, Wilson, Vaughan and Reid was magnificent and as a manager I'm thrilled with the display. I'm very pleased with the direction we're going and there are plenty of positives to build on."
Dyche too was happy with the way his team played. "There are many different ways of getting points and staying unbeaten and I thought we showed a great resilience and honesty for the Burnley shirt today," he said after the Clarets had won their hard earned point.
"We know we can play with the ball better, but to have that resilience, respect and work ethic shows fantastic things are happening and I thought the supporters showed that. I thought they were brilliant at the end in giving the players a big clap off.
"They are aware that it's hard to come to every ground and just play. We've done it many times this season, but there were really good signs of other things today and I think it is a valuable point."
He continued: "I think you can sometimes be guilty of getting greedy. It's a good greed, but you think you will go again and perform by slicking it about away at Nottingham Forest and having your own way, but it's not that easy.
"It's a big ground and a big club with a big expectation. Rightly so with the resources they have and the amount of players they have brought in and the manager will know about expectation because he has spent a lot of money here down the years.
"Look at the resources they have got compared to us, but it's fair to say we are up there for a reason. That reason is because we are a good side, and to have that tinge of disappointment in coming away to Forest and taking a point shows how far we have come, and there's more to come."
Dyche had a final word on the penalty that brought Sam Vokes our goal. "I think it was a penalty," he said. "The player has slid in and his arm is in an unnatural position. I'm told that's a penalty nowadays.
"Our fans have seen us not get one at Millwall and at home against Bournemouth. You hope things even themselves out, but I did think that was an actual penalty."
We held the lead until just before half time and Dyche concluded: "We didn't play as well towards the end of the half and conceded a soft goal from our point of view, but we haven't conceded many and for all they huffed and puffed, Tom Heaton hasn't had too much to do when you analyse it.
"We felt they would go more direct after the break, but you have to find a way of dealing with the opposition and overall we dealt with them well enough. That's 12 games unbeaten now, so I am certainly not going to go away from here disappointed with a point."