In my experience people who ask these kinds of questions are not usually interested in any of the mathematical details. I would say that while familiar mathematics is done with ordinary numbers, positive, negative, and zero, it transpires that these ordinary numbers are incomplete, and are part of a larger system that includes more numbers. By translating questions into this larger system, certain aspects of mathematical problems become clear that were obscure when we were not looking at the whole picture.
This does not get to the point of what "analysis" means, but I think it gets to the point of what complex analysis is about, and it is probably enough for your grandmother. If she asks for further details (which I imagine is unlikely) you might be able to explain that there is a series which looks as if it should converge to $\frac1{1+x^2}$ for all $x$, but it doesn't; why not? And the answer is, although that function is defined for all real numbers, in the complex plane it is badly-behaved at $x=\pm i$. If you get this far she might ask why anyone cares whether the series converges, but the answer to that is easy: when they work, these series are an essential method in obtaining solutions to engineering and physics problems involving differential equations, and you need to know whether the series will actually produce the correct answer.