Hamilton looked set to seal his second win in the Principality before a late pit stop under safety car conditions dropped him to an eventual third behind rivals Nico Rosberg and Sebastian Vettel, neither of whom opted to stop.
Speaking ahead of this weekend’s race in Canada, Lowe said that Mercedes’ incorrect pit call should be judged in a wider context.
“There has been a great deal of comment concerning our mistake in Monaco and its consequences,” he said. “On behalf of the team, this error should be put into context. It was a single error made in a split second based on incorrect data.
“Sport is all about split-second decisions, trading risk with reward, and we do not always get these decisions right. But in my opinion this team gets them right more than most. However, as in all aspects we must always improve, and the failure in Monaco will undoubtedly play its part in that process.”
Mercedes-Benz head of motorsport Toto Wolff echoed Lowe’s comments, saying: “Monaco has been tough for all of us to swallow. You can never afford to drop points and this was a reminder that any error can prove costly.
“However, we must also remember how far we have come to be disappointed with a P1 and P3 finish in Monaco. So, we take it on the chin as a team, learn from our mistakes and now look ahead to the next race in Canada.”
Despite the disappointment of Monaco, Hamilton is hoping for an instant response in Montreal - a track where he has claimed three victories in the past.
“I just want to get back out there and bounce back - and I could hardly ask for a better place to do that than Montreal,” said the world champion, who holds a 10-point lead over team mate Rosberg in the drivers’ standings.
“This is always one of my favourite weekends. The racing is fantastic, the city is a lot of fun and the crowds are really enthusiastic. I haven't always had the best of luck in Canada - but I've never finished off the podium there either and it's given me some great memories, including my first win.”