The principle reason regards loss in your power systems. The power loss in the windings of you motor / transformer / whatever varies to the square of the magnitude of the current. That is
Ploss = R * (Ii^2 + Iq^2)
Where R is your resistance,
Ii is the current that is in phase with your supply voltage
Iq is the current that is out of phase with your supply voltage
That wouldn't be so bad, except that the power being delivered to the shaft of your motor, to the load of your transformer, or to the whatsit of your whatever, is only going to be:
Pload = Ii x V
Where V is the line voltage.
So, Ii contributes nothing to your load, but does a disservice in your windings, wiring, and even out on the utility grids.
As for the complex number, that just gives a simple, phasor notation to keep track of this out of phase current. You can design in both Ii sources and Ii sinks. For example, given that an induction motor has an impedance that has a phase lag, you can drop in a parallel capacitor which will introduce a phase lead. Thus your building (and the utility) don't have to dissipate the power from Ii.
Mike