There were some very good individual performances, particularly among the forwards. Dan Pryor was exceptional and Jack Whetton looking promising in his first ITM Cup match while both props Scott Vessey and Matt Wallis were standouts.
"We'll have a review of the game ready for the players on Monday morning for their assessment but overall I think we were outworked by Otago and that's a bitter pill for us to swallow," he said.
Otago were up quickly in defence and never allowed the Northland backs to find rhythm.
"Discipline was an issue for us. We gave away penalties in kickable positions ... and we need to address that," Ferris said.
Otago were able to stay in front for most of the game through the remarkable goal kicking of young first-five Hayden Parker, who landed 10 consecutive kicks before missing his final effort.
Ash Moeke was also in good touch, making all six of his attempts, but Northland did not get nearly as many opportunities to add extra points.
Northland's poor start saw Otago 20-3 ahead after 20 minutes. The Taniwha settled in the second quarter and Wallis scored to close the deficit, despite finishing the spell down to 14 men when halfback Samisoni Fisilau was sinbinned.
But the Taniwha made a spectacular start to the second half, erasing Otago's 10-point lead in a flash. Lock Jack Whetton scored after just two minutes and Fisilau quickly made amends with a neat lineout move that paid dividends.
But the young and raw Otago players, well led by All Blacks Tamati Ellison and Adam Thompson, responded with two more tries, and Parker's boot did the rest before Eddie Paea stepped through the Otago defence to score a bonus point try.
Otago 46: Jayden Spence, Tamati Ellison, Tony Ensor, Buxton Popoali'i tries; Hayden Parker 4 con, 6 pen; Northland 34: Matt Wallis, Jack Whetton, Samisoni Fisilau, Eddie Paea tries; Ash Moeke 4 con, 2 pen. Halftime: Otago 23-13.