Real's forward ranks combined to devastating effect at the Riazor, as Cristiano Ronaldo scored a hat-trick while Gareth Bale and Javier Hernandez struck a brace each.
James Rodriguez was also on target for the visitors who bounced back style domestically after back-to-back La Liga defeats to Real Sociedad and Atletico Madrid.
Real also put five past Basel in the UEFA Champions League on Tuesday and Ancelotti wants his side to offer a more consistent level of performance.
"We showed all the quality we have going forward," the Italian said of Saturday's performance.
"We have a phenomenon [Ronaldo] and a lot of other top quality players.
"They combined together really well and that was what stood out. However, we have to be even more consistent and improve the balance in the side.
"After suffering two defeats we have scored 13 goals in two games. That's a sign that we have reacted well."
Despite a return to winning ways in the top flight, Real still trail leaders Barcelona by three points ahead of the Catalans' fixture with Levante on Sunday.
"We've fixed the problems, not the points," Ancelotti continued.
"The season is very long. The disadvantage is not a problem."