MacOsX Mavericks- Wi-Fi keeps dropping? Here's why

Does your Wi-Fi connection often drop without any apparent reason?
Do you experience a poor wireless connection?
Does your Mac lose connectivity after being in Sleep Mode?
Luckily OS X supplies a built-in functionality that can help solve these problems in the twinkling of an eye.

Wireless Diagnostics "allows to troubleshoot and optimize a wireless network, by detecting common problems and monitoring your connection for intermittent connectivity failures" (Source: Apple). After completing its tests, it creates a report on your desktop that you can send to Apple for support.

Wireless Diagnostics can be launched by pressing down the Alt (⌥) key (also called Option key), while clicking the Wi-Fi icon, and then selecting Open Wireless Diagnostic. After launching the utility, you'll be asked for your administrative password because Wireless Diagnostics can temporarily change your network settings when running tests. You'll be shown a window which recaps the main functionalities of the application. Click Continue to start the test, which will require a while.
After the test is completed, you can be informed of configuration problems right away or you'll receive the message "Your Wi-Fi connection appears to be working as expected", if all looks good. If you don't experience problems maintaining connectivity, you can stop your analysis at this point.

If you do, instead, have such problems, click Monitor my Wi-Fi connection. After a while, the utility will create a detailed report as a compressed file on your desktop, but you can check the utility itself for a brief picture of the situation. Clicking the question mark next to each problem detected, you'll find a more detailed explanation about it and suggestions on possible solutions.

In my case, Wireless Diagnostics found three problems.

With specific regard to one of them, Crowded Wi-Fi Channel, it detected that my Wi-Fi was transmitting on a channel utilized by too many wireless devices in the area (routers, etc.); this was arguably the reason why my wireless connection had started to drop and experience problems.
 
Wrap-up

If your Wi-Fi connection is performing poorly or you experience connectivity problems, the Wireless Diagnostics tool can help you a lot.

This overlooked MacOSX feature detects your Wi-Fi problems and suggests possible solutions.

There are third-party diagnostic programs which can perform the same functions but Wireless Diagnostics is built-in in your OS X and it's free, which won't hurt.