The Reds were ripped apart in the first half at the Emirates and went in 3-0 down, eventually losing 4-1 to slip to a second successive defeat.
Manager Brendan Rodgers had to deny claims a crisis meeting had been held in the aftermath but Mignolet said some of the players had taken it upon themselves to try to sort out their shortcomings while travelling back from London.
"You always look for certain things you can do better and what went wrong," he told liverpoolfc.com ahead of a crucial FA Cup quarter-final replay at SkyBet Championship side Blackburn, for which you can get a William Hill Free Bet.
"I always speak to the defence and on the way back from Arsenal we talked through a couple of things.
"You always try to take the positives and negatives out of the game. I'm my own biggest critic and you analyse your games in a critical way together with the goalkeeping coach.
"You see afterwards what you could have done better.
"The good thing is that if there is a game coming so close afterwards, you can go into that game looking forward to making sure that you put things right.
"It's a massive game against Blackburn, we knew that beforehand. It's not going to be easy and it's going to be a totally different game to the one away at Arsenal.
"It will be tough, but we want to get through to the next round and put in a performance to make sure that we play in the semi-final at Wembley."
Mignolet's form has improved since returning to the side after being briefly dropped in December, having changed his approach.
"The goalkeeping coach, the gaffer and the fans asked me to be commanding and demanding," he added.
"Before the game, Kolo (Toure) reminded me that I had to keep him on his toes with it being his first game for a while.
"I've done that ever since I came back into the team, to be loud and help the team out, organising and helping them in a positive way.
"Organising the defence is something that is very important and I try to do my best every single day in training to make sure the lads get the information they need."